The petrochemical industry, once defined by stability and steady career progression, now faces a dual leadership challenge: an aging executive base and a shrinking pool of next-generation executives ready to take over, in the context of flat-lining industry soon to enter the fifth year of an unprecedented downturn.
The roots of this issue go back decades. Since the 1980s, reduced graduate hiring has gradually eroded the leadership pipeline. Today, many companies face the consequences — thin succession benches, fewer mid-career leaders, and the loss of accumulated industry wisdom as experienced executives retire.
At the same time, the sector itself is contracting, especially in Europe. Consolidation, decarbonisation pressures, and shifting investment priorities mean there are simply fewer senior roles available. Yet paradoxically, even as opportunities diminish, the demand for capable leaders is growing, not in number, but in quality. The industry needs executives with broader perspectives, digital fluency, and the adaptability to navigate uncertainty, lead transformation, and work across boundaries.
Beyond Traditional Succession
In this context, traditional succession models no longer suffice. The industry can no longer rely solely on insiders rising through long technical careers. Boards and CEOs increasingly look beyond the petrochemical world, to adjacent industries such as advanced manufacturing, logistics, process technology and energy transition, for leaders who bring new ideas, data-driven decision-making, and a global outlook.
This widening of the talent pool is not a compromise; it’s a necessity. Future leaders will need to integrate deep industrial understanding with the ability to lead change, build partnerships, and adapt strategy in real time.
An Alternative Perspective
We look for executives who can bridge legacy and innovation, and who see beyond the current footprint of the industry. Our focus is on aligning leadership selection and succession with the future shape of the business, not its past.
Even in a contracting market, leadership quality remains decisive. The challenge is not simply to fill fewer top roles, but to fill them with individuals capable of sustaining relevance and competitiveness in a transformed global landscape.
by Andrew Kris, Borderless Founding Partner
