Sector News

LyondellBasell CEO Gallogly to retire in early 2015

September 30, 2014
Chemical Value Chain
LyondellBasell CEO James Gallogly has announced plans to retire from the company in early 2015. LyondellBasell’s supervisory board has formed a committee to choose Gallogly’s successor. Gallogly will remain CEO and chairman of the management board in the interim. A LyondellBasell spokesperson says the decision was made by Gallogly. The supervisory board wanted Gallogly to remain as CEO, but respects the decision, he adds. 
 
“There is never a perfect time to leave a company with as much promise as LyondellBasell, but this is the right time for me,” Gallogly said in a statement. “Having achieved the goals that I set for myself professionally and for the company, I feel it’s time to move on to the next chapter, putting a priority on my family and philanthropic efforts. The company is at a point where the successful strategies and strong leadership team we have in place are poised to take full advantage of the favorable industry conditions that are expected for the foreseeable future.”
 
Shareholders approved the expansion of the company’s management board, chaired by Gallogly, in May 2014 to include Craig Glidden, executive v.p. and chief legal officer; Karyn F. Ovelmen, executive v.p. and CFO; Bhavesh Patel, executive v.p. – olefins and polyolefins – Europe, Asia, and international (EAI) and technology; Timothy Roberts, executive v.p. – olefins and polyolefins – Americas; and Patrick Quarles, senior v.p. – intermediates and derivatives. “The entire management board has demonstrated exceptional business leadership and I am confident the transition will be seamless,” Gallogly said.
 
Gallogly joined LyondellBasell in May 2009, when the company was still operating under bankruptcy protection. “Under Jim’s leadership, LyondellBasell successfully emerged from bankruptcy in record time and today is an industry leader with a very strong balance sheet and strategically positioned manufacturing facilities,” says Robert Gwin, chairman of the LyondellBasell supervisory board.  “The supervisory board is grateful to Jim for his exceptional contributions to the company.” 
 
By Robert Westervelt
 

comments closed

Related News

January 29, 2023

Dow and 3M cut thousands of jobs

Chemical Value Chain

3M and Dow have announced they are cutting thousands of roles from their global workforces in response to economic pressures. Dow has said it will cut 2,000 jobs across its global workforce (around 5%) in a bid to save US$1bn in 2023. The company says it will also cut costs by shutting down “select assets”, though it did not note where it would halt operations.

January 29, 2023

Sweden discovers Europe’s largest rare earths deposit

Chemical Value Chain

Sweden’s state mining firm has discovered what could be Europe’s largest rare earths deposit, and says it could help the bloc reduce its reliance on imports of minerals needed to manufacture clean technologies and meet climate targets.

January 29, 2023

Avantium to supply Henkel with plant-based FDCA

Chemical Value Chain

Henkel and Avantium have been partners since 2019, when Henkel joined the PEFerence consortium. This consortium of partners, coordinated by Avantium, aims to establish an innovative supply chain for FDCA and PEF (polyethylene furanoate).

How can we help you?

We're easy to reach