A process for decomposing a cumene oxidation product mixture containing cumene hydroperoxide (CHP) and dimethylphenyl carbinol (DMPC) to produce phenol, acetone and alpha-methyl styrene (AMS) with enhanced safety of operation and reduced by-product formation which comprises the steps: mixing the cumene oxidation product in a stirred or back-mixed reactor with an acid catalyst, with 10 to 100 percent acetone relative to the amount of acetone produced during the decomposition reaction, and with up to 4 weight percent additional amounts of water relative to the reaction mixture, at an average temperature between about 50.degree. C. and about 90.degree. C. for a time sufficient to lower the average CHP concentration of the reactor to between about 0.2 and about 3.0 weight percent, and wherein a portion of DMPC is converted to dicumyl peroxide (DCP); then reacting the reaction mixture from step (a) at a temperature between about 120.degree. C. and 150.degree. C. under plug-flow conditions for a time sufficient to decompose substantially all residual CHP and at least 90 percent of the DCP formed in step (a).