MIDLAND, Mich. – After 38 years with The Dow Chemical Co., Chief Financial Officer William "Bill" Weideman is retiring, and the company’s Board of Directors selected Howard Ungerleider to succeed him. Ungerleider’s appointment is effective Wednesday, Oct. 1, Dow recently reported.

"Howard has been instrumental in transforming Dow to a more market-driven, innovative and technology-led organization, and brings a board array of experience and leadership across multiple businesses and geographies, as well as his investor relations experience," Dow’s Chairman and CEO Andrew Liveris said in a prepared statement.

Weideman, who most recently served as executive vice president and chief financial officer, a role he assumed in November 2009, is officially retiring at the end of the year, the release states.

"Throughout his career, Bill has served Dow with an effective blend of financial acumen, vision and leadership," Liveris’s statement continued. "During his tenure as CFO, Bill has been an outstanding steward of Dow’s financial strategy through a critical phase of our transformation."

Ungerleider, 46, who joined Dow in 1990, has fulfilled commercial, business, financial, geographic, functional and enterprise-level leadership roles globally.

In 2006, he was appointed North American commercial vice president for Dow’s $6 billion Basic Plastics business portfolio, according to the release. From 2008 to 2011, he served as vice president of Investor Relations. As such, he was responsible for "creating and driving an investor outreach program regarding Dow’s strategic transformation and performance in the midst of the worst global economic crisis in decades," the release states. In 2011, Ungerleider was named president for Dow’s Performance Plastics Division. In 2012, he was named executive vice president of Dow’s Advanced Materials Division and joined Dow’s senior-most executive team.

Weideman, 60, joined Dow in 1976. He held numerous financial leadership roles during his nearly 40-year career.

He was appointed vice president and corporate controller in 2006, interim chief financial officer in November 2009 and was named to his current position in 2010.

Weideman assumed responsibility for Corporate Strategic Development and executive oversight for Dow AgroSciences in August 2012. He also served as a member of the company’s Executive Committee.