James Gallogly, CEO of Houston-based polyolefins producer LyondellBasell Industries NV, on Sept. 29 announced plans to retire in 2015.
Gallogly became CEO in 2009 following the retirement of Volker Trautz. Gallogly will continue to serve as CEO and chairman of the management board pending the selection of his replacement.
“The supervisory board is grateful to Jim for his exceptional contributions to the company.” said Robert Gwin, chairman of the LyondellBasell supervisory board, which has formed a committee to choose the successor.
“There is never a perfect time to leave a company with as much promise as LyondellBasell, but this is the right time for me,” Gallogly said. “Having achieved the goals that I set for myself professionally and for the company, I feel it's time to move on to the next chapter, putting a priority on my family and philanthropic efforts. The company is at a point where the successful strategies and strong leadership team we have in place are poised to take full advantage of the favorable industry conditions that are expected for the foreseeable future. I truly believe the company's best days lie ahead.”
LyondellBasell achieved record earnings in 2013, including the best fourth-quarter results in the company's history.