DailyTimeCapsule brief
March 9, 1988
On March 9, 1988, in a move reflecting corporate restructuring trends of the late 20th century, Dow Corning announced that it was promoting an officer to take over the position of chief executive. This decision came amid a broader backdrop of economic change in the United States, as businesses were adapting to the competitive pressures of globalization and technological innovation. The Reagan administration was still in its final year, characterized by conservative economic policies aimed at deregulation and tax cuts which were believed to foster growth. Globally, tensions from the Cold War continued to linger, influencing international relations and economic strategies across the world.
Key developments
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Lawrence A. Reed, who is currently the president of Dow Corning Corporation, has been nominated to also serve as the chief executive officer of the company. This dual role reflects Reed's significant contributions to the growth and innovation of Dow Corning, particularly in silicone production, which is crucial for various industries. The appointment is expected to strengthen leadership as the company navigates future challenges and opportunities in the rapidly evolving silicone market.
