The world’s biggest maker of polypropylene plastic.
By The American Bazaar Staff
WASHINGTON, DC: LyondellBasell Industries NV (LYB), the world’s biggest maker of polypropylene plastic, has named Bhavesh V. ‘Bob’ Patel to succeed James Gallogly as chief executive officer starting January 12.
Patel will also become chairman next month, Rotterdam-based LyondellBasell said in a statement, reported Bloomberg. Gallogly, 62, announced his retirement in September.
“After a rigorous selection process, we chose Bob Patel based on his proven leadership, his outstanding track record, and his numerous contributions to the success of LyondellBasell,” said Supervisory Board chairman Robert Gwin, reported Business Standard.
Patel is currently an executive vice president whose responsibilities include running the olefins and polyolefins business outside the U.S., a segment that last year accounted for 33 percent of the company’s sales, according to data compiled by Bloomberg. Before that, he restructured the olefins and polyolefins business in the U.S. as the boom in natural gas produced from shale rock dramatically lowered costs
Patel said in a statement, “Moving forward, we will build upon the strong foundation Jim has established. I truly believe our greatest achievements are yet to come and I look forward to the next exciting chapter in LyondellBasell’s future.”
Gallogly joined LyondellBasell in 2009, just a few months after the business declared bankruptcy following the mega merger of the Houston- and Netherlands-based companies that preceded it.