Bhavesh V. “Bob” Patel has been named CEO of Houston-based polyolefins producer LyondellBasell Industries NV, effective Jan. 12.
Patel succeeds James Gallogly, who had announced Sept. 29 that he planned to retire in 2015.
“After a rigorous selection process, we chose Bob Patel based on his proven leadership, his outstanding track record, and his numerous contributions to the success of LyondellBasell,” said Chairman Robert Gwin, in a news release. “The board is grateful to Jim Gallogly for his many accomplishments and his outstanding service to the company and its stakeholders. We are very pleased to announce Bob's appointment as Jim's successor and we have full confidence that he will continue to lead the company to new heights.”
Patel has served as executive vice president since October 2013, with responsibilities for olefins and polyolefins, Europe, Asia & international and technology. He joined the company in 2010 after stints at Chevron Corp. and Chevron Phillips Chemical Co.
Patel also will serve as chairman of the company's management board.
“Moving forward, we will build upon the strong foundation Jim has established,” Patel said in a news release.
LyondellBasell achieved record earnings in 2013, including the best fourth-quarter results in the company's history.