LyondellBasell Appoints Bhavesh Patel As CEO - Quick Facts

(RTTNews) - LyondellBasell (LYB) announced the appointment of Bhavesh Patel as chief executive officer or CEO, effective January 12, 2015. Patel succeeds James Gallogly, who previously announced his plan to retire.

Commenting on Patel's prior experience, the company said he has served as executive vice president, Olefins and Polyolefins or O&P- Europe, Asia & International and Technology since October 2013. After serving in several positions of increasing responsibility at Chevron Corporation and Chevron Phillips Chemical Company, Patel joined LyondellBasell in March 2010 as senior vice president, O&P - Americas, where he successfully restructured the business to take advantage of the shale gas expansion in the U.S.

In November 2010, he was named senior vice president, O&P - EAI and Technology.  In that role, he again successfully restructured the business and improved profitability, the company said.

The company noted that in April of 2014, Patel was appointed by shareholders to the company's Management Board and will serve as the Chairman of the Management Board when he assumes the role of CEO in January.