Luis Sierra will become the new president and CEO of materials firm Nova Chemicals Corp. on Aug. 1.
Sierra joins Calgary, Alberta-based Nova from global energy firm British Petroleum, where he worked for 30 years, most recently as CEO of its aromatic chemicals unit. Sierra replaces Todd Karran, who will retire on Aug. 1 after a 35-year career with Nova.
In a July 7 news release, Nova Chairman Musabbeh Al Kaabi said that Sierra "brings a wealth of knowledge and experience from a strong and successful career with BP."
"The board believes that Todd's retirement provides the opportunity to introduce new leadership with the external perspective and renewed impetus required to drive the next phase of the company's development," he added.
Sierra added in the release that Nova "has a rich, proud history with a strong foundation and a bright future."
"I'm incredibly excited to work alongside our employees, customers, suppliers, governments and local community leaders to help shape a world where the plastic products vital to our lives are even better tomorrow than they are today," he said.
Sierra began his career with Amoco Corp. He progressed through the company and held leadership roles in London after the 1998 merger of BP and Amoco. In 2001, he returned to Chicago and was promoted to several executive roles.
Sierra holds degrees from the University of Florida and Georgia Institute of Technology and an MBA from the University of Chicago. He has served on the board of directors of Junior Achievement of Chicago for more than a decade. With JA, Sierra has taught financial literacy, work readiness and entrepreneurship in Spanish to elementary students.
Nova is one of North America's largest polyethylene resin makers. The firm is wholly owned by Mubadala Investment Co. of Abu Dhabi. Nova employs almost 3,000 worldwide and has annual sales of $3.6 billion.