Volker Trautz to Become CEO of Basell-Lyondell

Basell CEO Volker Trautz has been tapped to become CEO of the combined Basell and Lyondell Chemical once the merger of the companies is completed, according to a recent Lyondell announcement to employees. Basell agreed to acquire Lyondell last July for $12.7 billion in an all-cash transaction (CW, July 25, p. 8). Dan Smith, chairman and CEO of Lyondell, has been offered the position of chairman of the combined company. “I expect to meet again with Len Blavatnik, the new company’s owner, soon to discuss that opportunity,” Smith said in a memo to...

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