MOVES: Canada’s NOVA Chemicals appoints IPIC’s Al-Qubaisi chairman

14 January 2011 15:46  [Source: ICIS news]

TORONTO (ICIS)--Canada’s NOVA Chemicals has appointed Khadem al-Qubaisi as chairman of its board of directors, it said on Friday.

Al-Qubaisi is managing director of Abu Dhabi’s International Petroleum Investment Company (IPIC), which acquired NOVA in 2009 in a $2.3bn (€1.7bn) deal.

NOVA Chemicals is an integral part of IPIC’s growth plans in the petrochemical sector, in view of its leading technology resources and current market position in North America,” Al-Qubaisi said.

He succeeds Gerhard Roiss. Roiss, deputy CEO of Austria’s oil and petrochemicals major OMV, resigned from NOVA’s board as he is preparing to take over as OMV CEO from Wolfgang Ruttenstorfer, a NOVA spokesperson told ICIS.

Al-Qubaisi is also the chairman of the supervisory board of Austria-based plastics major Borealis, he is deputy chairman of the supervisory board of OMV, and he is vice-chairman of the board of directors of Spain’s Companía Española De Petroleos (CEPSA).

NOVA, Borealis, OMV and CEPSA are each part of IPIC’s investment portfolio.

($1 = €0.75)

For more on NOVA Chemicals and other producers visit ICIS company intelligence
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By: Stefan Baumgarten
+1 713 525 2653

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