LyondellBasell names Jim Gallogly as CEO

LyondellBasell Industries'' Supervisory Board has named James L. (Jim) Gallogly chief executive officer, effective immediately. Mr. Gallogly will succeed Volker Trautz who has an nounced his retirement from the company. The terms of the appointment are subject to the approval of the U.S. bankruptcy court overseeing LyondellBasell''s reorganisation plan. "Jim is a highly respected executive in the polymers, chemicals and fuels industries and experienced in successfully navigating the cyclical challenges of these businesses," said Len Blavatnik, Chairman of LyondellBasell''s Supervisory Board. "His impressive record in the industry, combined with years of international experience, makes him the right person to head LyondellBasell and to fully realise the company's potential," Blavatnik said. Earlier this year, LyondellBasell voluntarily filed to reorganise its U.S. operations and certain European holding companies in order to restructure the company''s debts and reposition operations for future growth. www.lyondellbasell.comAir Foamposite One