LyondellBasell has appointed Michael McMurray executive vice president and chief financial officer (CFO), effective 5 November. He replaces Thomas Aebischer, who will retire at the end of 2019.
McMurray joins LyondellBasell following a nearly 11-year career at Owens Corning, where he served as vice president/investor relations and treasurer; vice president/finance for the building materials group; and, for the past seven years, CFO. He previously spent 21 years with Royal Dutch Shell.
“Because he has worked both upstream and downstream of LyondellBasell, he has a unique perspective on market dynamics and how we can continue to create and deliver value,” says Bob Patel, CEO of LyondellBasell.
By Clay Boswell
Source: Chemical Week
The separation is expected to be completed by early Q3, following the receipt of all relevant approvals, including final Board approval. Nouryon intends to reduce its own debt with proceeds received from a planned external financing by Nobian.
Trinseo became a producer of the resin when it acquired Arkema’s PMMA business. It announced that it closed on the €1.14bn deal earlier this month.
As part of the EU’s Single-Use Plastic Directive (SUPD), it will become mandatory for caps and lids to remain attached to all beverage containers up to three liters in capacity from 2024.