Dow Chemical was charged by the US Securities and Exchange Commission with failing to properly disclose $3 million in perquisites for former chief executive Andrew Liveris, who retired Sunday.
Among Liveris’s perks were sporting events, use of Dow aircraft to travel to outside board meetings and club memberships, the SEC order said.
Dow, a subsidiary of DowDuPont, one of the world’s largest chemical companies, agreed Monday to pay $1.75 million to settle the charges. It neither admitted nor denied understating the perks in 2013 to 2016 proxy statements.
Dow Chemical fined by SEC for failing to disclose ex-CEO’s travel, sporting perks
4 July 2018 7:39am