LYB LyondellBasell Industries NV

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 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): January 14, 2015

 

 

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
		(Addresses of principal executive offices)

 

(713) 309-7200		+44 (0)20 7016 9527		+31 (0)10 275 5500
		(Registrant’s telephone numbers, including area codes)

(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))

 

 

 

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Appointment of Certain Officers

On January 20, 2015, LyondellBasell Industries N.V. (the “Company”) announced changes to its executive leadership team, including the assumption of expanded roles for Timothy D. Roberts, Patrick D. Quarles and Kevin W. Brown. The Company also announced that its Supervisory Board has nominated Mr. Brown for election to the Management Board by shareholders at the 2015 Annual General Meeting.

Kevin W. Brown, 57, formerly Senior Vice President – Refining, has been promoted to Executive Vice President – Manufacturing and Refining, adding responsibility for all of the Company’s manufacturing sites worldwide to his current role as leader of the refining business, Global Engineering Services and Global Projects. Mr. Brown has served as Senior Vice President – Refining since 2009.

Patrick D. Quarles, 47, formerly Senior Vice President I&D, has been promoted to Executive Vice President – I&D, Supply Chain & Procurement, adding management of the Company’s supply chain and procurement functions to his current role as the business leader of the global I&D business. Since joining the Company, Mr. Quarles has served in roles of increasing responsibility and was appointed Senior Vice President – I&D in 2009. Mr. Quarles has been a member of the Company’s Management Board since April 2014.

Timothy D. Roberts, 53, formerly Executive Vice President – O&P Americas, is now Executive Vice President – Global O&P. Mr. Roberts joined the Company in June 2011 as the business leader of O&P Americas. Prior to joining the Company, Mr. Roberts served in executive positions at Chevron Phillips Chemical and as Chief Executive Officer of Americas Styrenics LLC, a joint venture between the Dow Chemical Company and Chevron Phillips from 2008 until 2011. In his new role, Mr. Roberts will have responsibility for the Company’s O&P business worldwide. Mr. Roberts has been a member of the Company’s Management Board since April 2014.

None of Messrs. Brown, Quarles or Roberts has any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.

Executive Officer Compensation Arrangements

In connection with Mr. Roberts’ promotion, Mr. Roberts’ base salary was increased to $700,000, his annual cash bonus, or STI, target award was increased to 85% of his base salary and his annual equity incentive compensation, or LTI, target award was increased to 220% of his base salary. The base salary is effective January 26, 2015, and the STI and LTI award targets are effective for calendar year 2015.

Item 9.01 Financial Statements and Exhibits

 

99.1		Press Release dated January 20, 2015

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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:		January 20, 2015				By:		/s/ Craig B. Glidden
						Craig B. Glidden
						Executive Vice President

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Exhibit Index

 

99.1		Press Release dated January 20, 2015

Exhibit 99.1

 

NEWS RELEASE

FOR IMMEDIATE RELEASE

LyondellBasell Announces Expanded Roles for Three Senior Executives

HOUSTON and LONDON, Jan. 20, 2015 – LyondellBasell (NYSE: LYB) announced today that three senior executives – Timothy D. Roberts, Patrick D. Quarles and Kevin W. Brown – have all assumed expanded roles within the Company. The changes, which are effective immediately, were announced by Bhavesh V. “Bob” Patel, who became chief executive officer and chairman of the Management Board on January 12, 2015.

Timothy D. Roberts, formerly executive vice president – Olefins & Polyolefins (O&P) Americas, is now executive vice president - Global O&P. In this new role, Roberts will have responsibility for the Company’s olefins and polyolefins businesses worldwide. Roberts has been the business leader of O&P Americas since June 2011. Prior to joining the Company, Roberts served in executive positions at Chevron Phillips Chemical and as chief executive officer of Americas Styrenics LLC, a joint venture between the Dow Chemical Company and Chevron Phillips. He has been a member of the Company’s Management Board since April 2014.

Patrick D. Quarles, senior vice president - Intermediates and Derivatives (I&D) has been promoted to executive vice president - I&D, Supply Chain and Procurement. In addition to his current role as the business leader of the global intermediates and derivatives business, Quarles will now manage the Company’s supply chain and procurement functions. Quarles has been senior vice president - I&D since 2009. Before that, Quarles served in roles of increasing responsibility in the Company and its predecessors. Quarles has been a member of the Company’s Management Board since April 2014.

Kevin W. Brown, senior vice president - Refining, has been promoted to executive vice president - Manufacturing and Refining. In addition to leading the refining business, Global Engineering Services and Global Projects, Brown will now be responsible for all of the Company’s manufacturing sites worldwide. Brown has been senior vice president - Refining since 2009. Prior to joining the Company, Brown served as an executive officer and a director of Sinclair Oil, a privately-held U.S. petroleum company.

The Company also announced today that its Supervisory Board has nominated Brown for appointment to the Company’s Management Board. The Company’s shareholders will be asked to elect Brown to the Management Board at its 2015 Annual General Meeting.

“These individuals are key players on one of the strongest operational teams in our industry, and each has a track-record of success at LyondellBasell,” said Bob Patel. “Tim, Pat and Kevin are all seasoned business leaders and tremendous assets to our company. I am delighted to announce their promotions and am confident they will be successful in their new roles.”

LyondellBasell

www.lyondellbasell.com

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LyondellBasell– Page 2

LyondellBasell (NYSE: LYB) is one of the world’s largest plastics, chemical and refining companies and a member of the S&P 500. LyondellBasell manufactures products at 58 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.

SOURCE: LyondellBasell

Media Contact: George F. Smalley +1 713-309-7575

Investor Contact: Douglas J. Pike +1 713-309-7141

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LyondellBasell

www.lyondellbasell.com