MOVES: LyondellBasell appoints new CEO as Volker Trautz retires

14 May 2009 14:16  [Source: ICIS news]

LONDON (ICIS news)--The supervisory board of LyondellBasell Industries has appointed James Gallogly as group CEO, succeeding Volker Trautz with immediate effect, the Netherlands-based petrochemicals producer said on Thursday.

Trautz had announced his retirement from the company, LyondellBasell said in a statement.

Gallogly joins the company from US oil major ConocoPhilips, where he was vice president of exploration and production. Between 2000 and 2006 he was president and CEO of Chevron Phillips Chemical.

The terms of the appointment were subject to the approval of the US bankruptcy court overseeing LyondellBasell’s reorganisation plan.

“My role will be to harness the initiatives that are currently in motion, and manage the business and operations as we successfully transition out of Chapter 11 near year end,” Gallogly said.

Last week, parent company Access Industries said LyondellBasell would carry on its restructuring process under US bankruptcy protection after changes in the ownership of the company.

Access Industries has entered into an agreement with Germany’s ProChemie Holding to form a joint venture – to be named ProChemie GmbH – that will control LyondellBasell.

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By: Mark Watts
+44 20 8652 3214

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