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DOW'S OREFFICE ANNOUNCES IMPENDING RETIREMENT; POPOFF ELECTED CHAIRMAN; STAVROPOULOS TO BECOME PRESIDENT AND CHIEF OPERATING OFFICER

DOW'S OREFFICE ANNOUNCES IMPENDING RETIREMENT; POPOFF ELECTED CHAIRMAN;
 STAVROPOULOS TO BECOME PRESIDENT AND CHIEF OPERATING OFFICER
 MIDLAND, Mich., Sept. 10 /PRNewswire/ -- Paul F. Oreffice, chairman of the Board of Directors of The Dow Chemical Company (NYSE: DOW), today announced his retirement effective Dec. 1, 1992. This action is consistent with the company's age 65 retirement policy for inside directors, including the board chairman.
 At a meeting of the Board of Directors today, Frank Popoff was elected Dow chairman effective Dec. 1, 1992, and will retain his positions as president and chief executive officer. Related to this announcement, William S. Stavropoulos, president of Dow U.S.A. and a senior vice president of Dow, will become president and chief operating officer of Dow effective April 1, 1993.
 "Paul Oreffice, in his long tenure as chief executive officer, played a central role in reshaping the company into a diversified global enterprise with emphasis on chemical specialties and geographic reach," said Popoff. "As chairman, he presided over our Board of Directors in a period of challenging growth and continued diversification. His leadership and vision will be missed."
 Commenting on the Stavropoulos announcement, Popoff said: "In Bill Stavropoulos, Dow assures itself of a continuation of leadership consistent with its traditions. With a broad and diverse background in several of Dow's key businesses and geographic areas, culminating with his presidency of Dow U.S.A. and election to senior vice president, Bill has all the qualifications necessary for this complex and challenging assignment."
 Oreffice joined Dow in 1953 in Midland. He served in successive international assignments in Switzerland, Italy, Brazil and Spain before being named the first president of Dow Latin America in Coral Gables in 1966. In 1970, he returned to Midland as financial vice president of Dow, and in 1971 he was elected to the Board of Directors. In 1975, he was named president of Dow U.S.A.
 In 1978, he was named president and CEO of Dow and became chairman in 1986.
 Oreffice received a bachelor's degree in chemical engineering from Purdue University, and has received several honorary doctoral degrees.
 Popoff joined Dow in 1959 in Midland and was assigned to Technical Service and Development. He next served in a variety of sales, marketing and business management positions in Midland, Cleveland, and Europe. In 1975, he was named general manager of the Agricultural and Organic Chemicals Department, Dow U.S.A.
 In 1976, he returned to Dow Europe as vice president of Marketing, later executive vice president, and president in 1981. He was elected to the Board of Directors in 1982 and became a vice president of Dow in 1984. In 1985, he returned to Midland as executive vice president of Dow and was named president and chief operating officer in 1987. Later in the year, he became chief executive officer.
 Popoff received a bachelor's degree in chemistry and a master's degree in business administration from Indiana University.
 Stavropoulos joined Dow in 1967 as a research chemist in Pharmaceuticals. He moved to Diagnostics Product Research in 1970 and became a research manager in 1973. In 1976, he was named Diagnostics Product business manager and business manager for Polyolefins in 1977.
 In 1979, he was named director of Marketing for the Dow U.S.A. Plastics Department and in 1980 commercial vice president for Dow Latin America in Coral Gables. He was named president of Dow Latin America in 1984 and returned to Midland in 1985 as commercial vice president of the U.S. Area's Basics business.
 Stavropoulos was named group vice president for Plastics and Hydrocarbons, Dow U.S.A. in 1987 and acquired additional duties as chairman and CEO of Essex Chemical in 1988. He was named president of Dow U.S.A. and a vice president of Dow in 1990 and was elected a senior vice president in 1991.
 Stavropoulos received a bachelor's degree in pharmaceutical chemistry from Fordham University and a doctorate in medicinal chemistry from the University of Washington.
 -0- 9/10/92
 /CONTACT: Jan R. Larson of The Dow Chemical Company, 517-636-9411/
 (DOW) CO: The Dow Chemical Company ST: Michigan IN: CHM SU: PER


ML -- DE002 -- 7855 09/10/92 09:07 EDT
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Date:Sep 10, 1992
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