LyondellBasell CEO Jim Gallogly to retire

HOUSTON and LONDON--LyondellBasell announced that its Chief Executive Officer (CEO)  James L. Gallogly will retire from the company in early 2015. Although he will continue to serve as CEO and chairman of the LyondellBasell management board in the interim during the transition period prior to the selection of his replacement, the LyondellBasell supervisory board of directors has formed a committee to choose Mr. Gallogly's successor. 

In May 2014, shareholders approved the expansion of the company's management board, chaired by Mr. Gallogly, to include Craig B. Glidden, executive vice president and chief legal officer, Karyn F. Ovelmen, executive vice president and  chief financial officer, Bhavesh (Bob) V. Patel, executive vice president – Olefins & Polyolefins - EAI and Technology,  Timothy D. Roberts, executive vice president – Olefins & Polyolefins – Americas, and Patrick D. Quarles, senior vice president – Intermediates and Derivatives. The management board members were elected to four-year terms to ensure continued strong leadership and executive continuity at the company.

Under Mr. Gallogly’s leadership, LyondellBasell successfully emerged from bankruptcy in record time to achieve a very strong balance sheet and strategically positioned manufacturing facilities.