Dow Inc. (NYSE: DOW) announced that Jim Fitterling will transition from chair and chief executive officer to executive chair of the board, effective July 1, 2026. The board of directors appointed Karen S. Carter, currently chief operating officer, as chief executive officer on the same date.

Carter will join Dow's board of directors when she assumes the CEO role. Richard Davis will continue as the company's independent lead director. The leadership transition follows what the company described as a multi-year succession planning process.

Fitterling has served as CEO since 2018 and board chair since 2020. During his tenure, he led Dow through its spin-out from DowDuPont and guided the company through various economic and geopolitical challenges. In his new role as executive chair, Fitterling will focus on long-term strategy, governance and external relationships.

"Jim has led the company through a period of significant transformation while strengthening Dow's strategy, culture and long-term positioning," Davis said in a statement. "We are equally pleased to congratulate Karen on her appointment as CEO."

Carter brings more than three decades of experience at Dow across various business, commercial and corporate functions. As chief operating officer, she has overseen business and operational performance company-wide with responsibility for Dow's operating segments and key functional organizations.

Previously, Carter served as president of Dow's Packaging & Specialty Plastics, the company's largest operating segment. She led value growth initiatives including asset upgrades, capacity expansions and reliability improvements while developing circular economy solutions.

Dow operates manufacturing sites in 29 countries and employs approximately 34,600 people. The company reported sales of approximately $40 billion in 2025, according to the press release.