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Share Name | Share Symbol | Market | Type |
---|---|---|---|
LyondellBasell Industries NV | NYSE:LYB | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.81 | -0.80% | 100.10 | 100.98 | 99.911 | 100.91 | 1,138,685 | 01:00:00 |
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 26, 2014
LYONDELLBASELL INDUSTRIES N.V.
(Exact Name of Registrant as Specified in Charter)
The Netherlands | 001-34726 | 98-0646235 | ||
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
1221 McKinney St., Suite 300 Houston, Texas USA 77010 |
1 Berkeley Street Mayfair, London The United Kingdom W1J8DJ |
Stationsplein 45 3013 AK Rotterdam The Netherlands | ||
(Address of principal executive offices) |
(713) 309-7200 | +44 (0)20 7016 9527 | +31 (0)10 275 5500 | ||
(Registrants telephone number, including area code) |
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
On September 29, 2014, LyondellBasell Industries N.V. (the Company) announced that Mr. James L. Gallogly has decided to retire from his positions as Chief Executive Officer and Chairman of the Management Board of the Company in early 2015.
A copy of the news release relating to this disclosure is furnished herewith as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit No 99.1 | Press Release dated September 29, 2014 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
LYONDELLBASELL INDUSTRIES N.V. | ||||||
Date: September 29, 2014 | By: | /s/ Craig B. Glidden | ||||
Craig B. Glidden | ||||||
Executive Vice President |
Exhibit 99.1
NEWS RELEASE |
FOR IMMEDIATE RELEASE
LyondellBasell Announces Retirement of CEO Jim Gallogly
HOUSTON and LONDON (September 29, 2014) LyondellBasell (NYSE: LYB) announced today that Chief Executive Officer James L. Gallogly will retire from the company in early 2015. Gallogly will continue to serve as CEO and chairman of the LyondellBasell management board in the interim to ensure an orderly transition pending the selection of his replacement. The LyondellBasell supervisory board of directors has formed a committee to choose Galloglys successor.
In May 2014, shareholders approved the expansion of the companys management board, chaired by Gallogly, to include Craig B. Glidden, executive vice president and chief legal officer, Karyn F. Ovelmen, executive vice president and chief financial officer, Bhavesh (Bob) V. Patel, executive vice president Olefins & PolyolefinsEAI and Technology, Timothy D. Roberts, executive vice president Olefins & Polyolefins Americas, and Patrick D. Quarles, senior vice president Intermediates and Derivatives. The management board members were elected to four-year terms to ensure continued strong leadership and executive continuity at the company. The entire management board has demonstrated exceptional business leadership and I am confident the transition will be seamless, Gallogly said.
Under Jims leadership, LyondellBasell successfully emerged from bankruptcy in record time and today is an industry leader with a very strong balance sheet and strategically positioned manufacturing facilities, said Robert G. Gwin, chairman of the LyondellBasell supervisory board. The supervisory board is grateful to Jim for his exceptional contributions to the company. As the company moves forward, we will build on the solid foundation Jim created by continuing to focus on safety, cost control, taking maximum advantage of market opportunities and by investing in technology-driven growth, he added.
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 its time to move on to the next chapter, putting a
LyondellBasell
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LyondellBasell - Page 2
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 companys best days lie ahead.
This press release contains forward-looking statements. These statements are not guarantees of future performance or outcomes and involve certain risks, uncertainties and assumptions that are difficult to predict. While LyondellBasell believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting LyondellBasell will be those currently anticipated. All forward-looking statements are expressly qualified in their entirety by the cautionary statements above as well as factors affecting our business generally as set forth in the Risk Factors section of our Form 10-K for the year ended December 31, 2013, which can be found at www.lyb.com on the Investor Relations page and on the Securities and Exchange Commissions website at www.sec.gov.
LyondellBasell (NYSE: LYB) is one of the worlds largest plastics, chemical and refining companies. The company manufactures products at 55 sites in 18 countries. LyondellBasell products and technologies are used to make items that improve the quality of life for people around the world including packaging, electronics, automotive parts, home furnishings, construction materials and biofuels. More information about LyondellBasell can be found at www.lyb.com.
Contacts:
Investors
Douglas J. Pike
+1 713 309 7141
Media
George Smalley
+1 713 309 7575
LyondellBasell
www.lyondellbasell.com
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