RTTNews | Aug 25, 2021 07:18AM EDT

07:18 Wednesday, August 25, 2021 (RTTNews.com) - LyondellBasell Industries N.V. (LYB) on Wednesday said its Chief Executive Officer Bhavesh V. Patel intends to retire from the company as of December 31, 2021.

Bhavesh Patel (Bob) will also resign from the company's Board, which has set up a sub-committee to look for a new CEO both from inside and outside the company.

"We are extremely proud of his commitment to driving sustainability at LyondellBasell, where we have set an ambitious goal to produce and market two million metric tons of recycled and renewable-based polymers by 2030. Bob's leadership in this area is exemplified by the Company's actions as a founding member of the Alliance to End Plastic Waste, an organization which helps address plastic waste in the environment," said Jacques Aigrain, Board Chair.

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