Commentary: LyondellBasell CEO Gallogly to receive 2014 ICIS Kavaler Award

This unique global chemical industry award will be presented to winner LyondellBasell CEO Jim Gallogly at a black tie dinner ceremony on 16 September in New York City

LyondellBasell CEO Jim Gallogly has been selected as the winner of the 2014 ICIS Kavaler Award, sponsored by The Chemists’ Club, in recognition for outstanding achievement as voted on by his peers.

LyondellBasell CEO Jim Gallogly won a vote among his peers Copyright: LyondellBasell

This unique global chemical industry award will be presented to Gallogly at a black tie dinner ceremony on Tuesday, 16 September 2014, at the Metropolitan Club in New York City.

The distinguishing feature of the ICIS Kavaler Award is that the winner is selected by his/her peers – the senior executives in the ICIS Top 40 Power Players listing, a global ranking of the leaders making the greatest impact on the chemical industry.

Few have capitalised on the US shale gas boom better than LyondellBasell. Led by Gallogly, the company has established and maintained a solid financial footing for many years to come.

LyondellBasell has significantly boosted value by returning profits to shareholders though dividends and stock buybacks – all while making smart investments in key expansion projects that will raise cost advantaged capacity without massive capital outlays.

“At LyondellBasell, we understand the importance of having a sound business strategy. Striving to get the basics right is essential. We call it ‘Everyday Excellence.’ It starts with operating our facilities safely and reliably. Nothing matters more. When you do this and apply a disciplined approach to costs and future investments, special things can happen,” said Gallogly.

“On behalf of all the employees at LyondellBasell, we thank ICIS and The Chemists’ Club for this recognition. It honors the hard work of so many in transforming a recently bankrupt company into an industry leader,” Gallogly added.

In the award selection process, ICIS and The Chemists’ Club invited each of the ICIS Top 40 Power Players for 2013 to vote for three individuals in the ballot, based on newsworthy achievement in one or more of the following categories:

• Profitability/shareholder value
• Mergers and acquisitions (deals or integration)
• Projects/capital investment
• Innovation – technology, product, business process with an impact on industry and society

Last year, the ICIS Kavaler Award was presented to PPG Industries chairman and CEO Charles Bunch on 30 October 2013, at The Lotos Club in New York City.

BACKGROUND
The award is a revival of the Kavaler Award, which was presented by Chemical Market Reporter to leading chemical CEOs from 1990 to 1999, including Jon Huntsman Sr, founder, chairman and CEO of Huntsman, and Frank Popoff, chairman and CEO of Dow Chemical.

Arthur Kavaler, who served for 46 years as reporter, editor and eventually publisher and editor-in-chief of Chemical Market Reporter – one of the three 
publications incorporated into ICIS Chemical Business – was a probing reporter and editor with unwavering conviction that had a major impact on chemical industry journalism.