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May 24, 2015 11:55 AM ET

Chemicals

Company Overview of LyondellBasell Industries N.V.

Company Overview

LyondellBasell Industries N.V. operates as a manufacturer of chemicals and polymers, refiner of crude oil, producer of gasoline blending components, and developer and licensor of technologies for production of polymers. The company operates in five segments: Olefins and Polyolefins—Americas; Olefins and Polyolefins—Europe, Asia, International; Intermediates and Derivatives; Refining; and Technology. It produces and markets olefins, including ethylene, propylene, and butadiene; polyolefins, which consist of high density polyethylene, low density polyethylene, linear low density polyethylene, and polypropylene (PP); specialty polyolefins comprising PP compounds, catalloy process resins, and po...

Stationsplein 45

Rotterdam,  3013 AK

Netherlands

Founded in 2005

13,100 Employees

Phone:

31 10 275 5500

Fax:

31 10 275 5589

Key Executives for LyondellBasell Industries N.V.

Chairman of the Management Board and Chief Executive Officer
Age: 47
Total Annual Compensation: $609.0K
Chief Financial Officer, Executive Vice President and Member of the Management Board
Age: 50
Total Annual Compensation: $765.7K
Executive Vice President of Global Olefins & Polyolefins and Member of the Management Board
Age: 52
Total Annual Compensation: $609.0K
Compensation as of Fiscal Year 2014.

LyondellBasell Industries N.V. Key Developments

LyondellBasell Announces Executive Changes, Effective May 29, 2015

LyondellBasell announced that Daniel M. Coombs has been selected to become executive vice president of Intermediates and Derivatives (I&D), with additional responsibility for Supply Chain, Procurement and Technology. Coombs replaces Pat Quarles, who is taking a leadership position at a major U.S. company. Coombs' appointment is effective May 29, 2015. Patel also announced that Coombs would be nominated to join the Company's Management Board. Coombs has been senior vice president of Manufacturing at Chevron Phillips Chemical Company. He has held executive positions there since 2010, including senior vice president for Specialties, Aromatics and Styrenics, vice president of Corporate Planning and Development, and vice president and deputy general manager for Qatar Chemical Company Limited. He began his career in 1978 at Phillips Chemical, holding a variety of engineering and supervisory positions of increasing responsibility.

LyondellBasell Reaches Deal with Strikers

LyondellBasell has reached an agreement with striking union workers at its 268,000 b/d refinery in Houston, Texas, drawing the final stages of the strike nearer to a close. United SteelWorkers (USW) members at the refinery ratified a final contract and began coordinating a return to work. Resolution at LyondellBasell ends one of the more acrimonious segments of the strike, which still affects facilities with more than 1 million b/d of refining capacity. LyondellBasell and the USW traded allegations of bad faith bargaining and threats during the dispute as the Houston refinery continued to operate. The strike started 1 February and eventually grew to include union workers at 12 refineries representing more than 3.8mn b/d of refining capacity, or 20% of total US capacity. Refiners continued to operate with back-up workers such as supervisors, except at Tesoro's 168,000 b/d Golden Eagle refinery in Martinez, California, which operated as a terminal for much of the quarter. The majority of workers reached new contracts in March, when the USW and refining negotiator Shell reached a national-level agreement.

LyondellBasell Declares Interim Dividend, Payable on June 15, 2015

LyondellBasell announced that its Supervisory Board has authorized the company's Management Board to declare an interim dividend of $0.78 per share, representing an 11% increase from the company's first quarter 2015 dividend. The interim dividend will be paid June 15, 2015 to shareholders of record June 1, 2015, with an ex-dividend date of May 28, 2015.

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