Lyondellbasell announced that the Board of Directors has appointed Peter Vanacker, President and CEO of Neste Corporation, as its new Chief Executive Officer. Mr. Vanacker succeeds Bhavesh V. „Bob“ Patel, who will retire from the Company on December 31, 2021.
Mr. Vanacker will assume his role no later than June 2022, upon satisfaction of the notice period under his current employment agreement, at which time he will also join the Company‘s Board of Directors. The Board also announced that Kenneth (Ken) Lane, executive vice president, Global Olefins & Polyolefins (O&P) for Lyondellbasell, will serve as interim CEO upon Mr. Patel‘s retirement.
„Peter‘s outstanding leadership and industry experience made him the Board‘s choice in an exceptional field of candidates who were considered as part of the comprehensive search process,“ said Jacques Aigrain, Board Chair. Mr. Vanacker brings more than 30 years of industry experience to his new role, including serving as President and CEO of Neste, an industry-leading renewable products company that has seen substantial growth and transformation under his leadership since 2018. Prior to that role, Mr. Vanacker was CEO and Managing Director of the Cabb Group, a leader in the fine chemicals global market, and he was CEO and Managing Director of Treofan Group, a global leader in the polypropylene films business.
