The Board of Directors of The Dow Chemical Company has elected Paul G. Stern, chairman, Claris Capital, and a Dow director since 1992, as presiding director of the board effective May 12.

He was elected by the independent directors, who comprise a majority of the board. Mr Stern will succeed Dr. Harold T. Shapiro, president Emeritus and Professor of Economics and Public Affairs at Princeton University, who was named Dow's first presiding director in February 2003. Dr Shapiro will retire from Dow's Board following the 2006 Annual Meeting of Stockholders.