Steve Miller: Dow Chemical Board Moves Prevent Loeb Fight

Dow Chemical reached an agreement with Dan Loeb's Third Point to add four new directors to its board, increasing the number from 10 to 13. Steve Miller, the current non-executive chairman of AIG, is among the new directors. The agreement aims to avoid a costly proxy battle and bring fresh ideas to improve the company's return on assets. The standstill agreement ensures no hostile proxy fight will occur in the spring, with the addition of new directors seen as a solution to enhance Dow's performance.

What will be the new total number of directors on the Dow Chemical board after the addition?

Who is the current non-executive chairman of AIG mentioned in the text?

What was the main reason for Dow Chemical and Third Point to come to an agreement?

What is the first order of business for the new directors according to Steve Miller?

What does the standstill agreement imply for Dan regarding a proxy fight?