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LyondellBasell signs new contract with CEO, names senior executives

12:50 PM MDT | September 13, 2013 | Lindsay Frost

LyondellBasell Industries announced today that it has entered into a new contract with CEO James Gallogly, effective 14 May 2014. Gallogly’s previous contract began May 2009, when he joined the company, during its bankruptcy proceedings, tied most of his realizable compensation to equity awards. The majority of Gallogly's potential compensation under the new agreement will be tied to company performance and the creation of shareholder value, the company says. The company also has announced the promotion of two senior executives to executive v.p. positions...

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