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On December 13, 2021, LyondellBasell announced that the Board of Directors has appointed Neste President and CEO Peter Vanacker as the company's new CEO, succeeding Bob Patel
.
As previously announced, the latter will leave the company on the 31st of this month
.
After meeting the notice period under his current employment agreement, Vanacker will take up his post until June 2022, when he will also join LyondellBasell's board
.
The board also announced that LyondellBasell's executive vice president of global olefins and polyolefins, Kenneth Lane (Ken), will serve as interim CEO following the departure of Mr.
Patel
.
Peter Vanacker to be CEO of LyondellBasell
According to reports, before joining LyondellBasell, Vanacker has been deeply involved in the industry for more than 30 years
.
These include serving as President and CEO of Neste Corporation, an industry-leading renewable energy company that has experienced significant growth and transformation under his leadership since 2018
.
Prior to this role, Vanacker was CEO and Managing Director of CABB Group, a global market leader in fine chemicals, and CEO and Managing Director of Treofan Group, a global business leader in polypropylene films
.
Previously, he held a number of positions within the Bayer Group, including Executive Vice President and Head of the Global Polyurethanes Business, and Member of the Executive Board of Bayer Material Science (now Covestro)
.
During his tenure at Bayer, Vanacker worked at subsidiaries in Belgium, Brazil, Germany and the United States
.
He is Chairman of the Advisory Board of the European Industrial Leaders Institute and a member of the Supervisory Board of Symrise AG
.
"I am delighted to join the company at this time
.
I have always admired LyondellBasell's industry leadership in technology, product innovation and the circular economy
.
I will leverage my experience as I work to advance the company's sustainable Continuing to build on the company's momentum and create value for shareholders while continuing to develop our goals
.
I look forward to joining this outstanding leadership team and working with our employees to grow together,
" said Vanacker
.
