LyondellBasell Announces Leadership Changes

HOUSTON and LONDON, May 31, 2019

Thomas Aebischer, executive vice president and chief financial officer, has announced his intention to retire at the end of 2019. Aebischer joined LyondellBasell in January 2016 and played an instrumental role in building and enhancing the corporate finance function, helping to shape the company's growth strategy and leading the standardization of key business processes.

"Over the past several years, Thomas has helped the company think through our next phase of growth and how we will continue to deliver exceptional value for shareholders," said Bob Patel, LyondellBasell CEO. "I want to thank Thomas and wish him well as he enters the next chapter."

The company will be conducting a search for Aebischer's replacement over the next several months and anticipates naming this individual prior to the end of the year.

In addition, Torkel Rhenman will join LyondellBasell as executive vice president, Intermediates & Derivatives (I&D) effective July 1. Rhenman succeeds James Guilfoyle who was appointed executive vice president, Advanced Polymer Solutions and Global Supply Chain in 2018.

Rhenman is a well-rounded leader with a full range of experience leading global businesses, manufacturing, customer-facing roles and in emerging markets. Most recently, Rhenman was the chief executive officer of the Lhoist Group, a Belgium-based global minerals and mining company with 100 plants serving the steel, pulp and paper, mining, agriculture and construction industries. Prior to his role at Lhoist, Rhenman held a variety of positions in the U.S., U.K., Scandinavia, Switzerland, the Czech Republic, the Netherlands, and Japan with DuPont over a 26-year period. Rhenman holds a Master of Science in chemical engineering from the Royal Institute of Technology in Stockholm, Sweden. 

"Torkel brings a global perspective, depth of knowledge and a track record of creating value in the organizations he has led," said Patel. "As we look to the future, I'm confident that he will bring these experiences to the continued execution of our company's growth strategy."