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Chemical Week Magazine :: Business & Finance :: United States/Americas

LyondellBasell signs new contract with CEO, names senior executives

7:43 AM MDT | September 20, 2013 | —Lindsay Frost

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

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