LyondellBasell promotes two execs, awards new contract to CEO

13 September 2013 14:11  [Source: ICIS news]

HOUSTON (ICIS)--LyondellBasell has promoted its regional senior vice presidents for olefins and polyolefins (O&P), Bhavesh Patel and Timothy Roberts, the international petrochemicals major said on Friday.

Patel, who is senior vice president O&P Europe, Asia, International and Technology, and Roberts, senior vice president O&P, Americas, will effective 1 October assume responsibility for manufacturing operations in their respective regions.

LyondellBasell also said that it awarded CEO James Gallogly a new contract, effective May 2014.

Under the new contract, the bulk of Gallogly's potential compensation will be tied to the company performance and the creation of shareholder value.

"The company has been transformed in recent years under the talented leadership team that Jim has assembled and led," said Robert Gwin, chairman of LyondellBasell’s supervisory board.

"The company emerged from bankruptcy in May 2010 and is now a member of the S&P 500 with an investment-grade credit rating," Gwin added.

By: Stefan Baumgarten
+1 713 525 2653

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