Brazil’s Braskem SA nominated the company’s current president overseeing United States and Europe operations Fernando Musa as the new global CEO, replacing Carlos Fadigas, the company announced May 2.
Braskem tied the transition to the start of operations of its $5 billion Mexican petrochemical complex Ethylene XXI in March, marking “the completion of an important stage in the company’s internationalization process,” the company said via press statement.
Musa’s nomination still has to be approved by the company’s board of directors. Fadigas, who led the company for the last five years, will continue to work in Odebrecht, Braskem’s largest shareholder. He’ll focus specifically on supporting Braskem’s new cycle of international expansion, according to a company statement.
Odebrecht’s former CEO Marcelo Odebrecht is in prison, accused of involvement in a corruption scheme at state-run oil and energy firm Petroleo Brasileiro SA, or Petrobras.
Braskem said Musa’s priorities will be to advance international expansion, strengthen competitiveness across all operations and identify new investment opportunities in Brazil and abroad, while upholding the company’s commitment to its financial health.
By Anna Flavia Rochas
Source: Plastics News
Corteva (Indianapolis, Indiana) says it has signed a definitive agreement to acquire Stoller Group (Houston, Texas), a producer of biostimulants and plant nutrition products, for $1.2 billion. Stoller is one of the largest independent biologicals companies globally, with operations in more than 60 countries and more than $400 million in annual sales.
OMV has announced its new corporate structure today, designed to fully enable the delivery of Strategy 2030. The new organization will be built on five distinct areas. In addition to the CEO and CFO areas, three business segments will be established: Chemicals & Materials, Fuels & Feedstock, and Energy.
The European petchem sector is readying for some tough quarters. It’s a different picture in the US. So is this the best time ever to find a new role in the chemical industry? If you are in Europe, you would expect me to say probably not. But actually, it depends. So let me give you four answers to this question.
