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IBM Corp. said Tuesday its board elected Andrew Liveris, the chief executive of Dow Chemical Co., as its 14th director.

Liveris, 55, spent the majority of his career in Asia and rose to head all of Dow's Asia-Pacific operations before becoming its CEO in 2004.

Liveris is also a director of Citigroup Inc.

IBM shares fell 15 cents to $126.70 in Tuesday afternoon trading.

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