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)
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The Netherlands |
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001-34726 |
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98-0646235 |
(State or Other Jurisdiction
of Incorporation) |
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(Commission
File Number) |
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(IRS Employer
Identification No.) |
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1221 McKinney St.,
Suite 300 Houston,
Texas USA 77010 |
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1 Berkeley Street
Mayfair, London The
United Kingdom W1J8DJ |
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Stationsplein 45
3013 AK Rotterdam The
Netherlands |
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(Addresses of principal executive offices) |
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(713) 309-7200 |
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+44 (0)20 7016 9527 |
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+31 (0)10 275 5500 |
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(Registrants telephone numbers, including area codes) |
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(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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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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 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 Companys 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 Companys 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 Companys 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 Companys O&P business worldwide. Mr. Roberts has been a
member of the Companys 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
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99.1 |
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Press Release dated January 20, 2015 |
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.
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LYONDELLBASELL INDUSTRIES N.V. |
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Date: |
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January 20, 2015 |
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By: |
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/s/ Craig B. Glidden |
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Craig B. Glidden |
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Executive Vice President |
Exhibit Index
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99.1 |
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Press Release dated January 20, 2015 |
Exhibit 99.1
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NEWS RELEASE |
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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 Companys 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
Companys 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 Companys 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 Companys 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 Companys 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 Companys Management Board. The Companys 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
LyondellBasell Page 2
LyondellBasell (NYSE: LYB) is one of the worlds 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
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