Following the acquisition of the majority shares in Borealis by OMV and the intensified and close cooperation between OMV and Borealis, the Supervisory Board of Borealis has decided to appoint Thomas Gangl, currently Executive Board member of OMV, as CEO of Borealis.

Alfred Stern, who has successfully led Borealis transformation from a virgin polyolefins producer to a leading provider of advanced and circular polyolefin solutions, and European market leader in the mechanical recycling of plastics, was appointed Executive Board member for Chemicals and Materials of OMV and will step down as CEO of Borealis. Thomas Gangl will take over the role as Borealis CEO.

These changes will take effect as of 1 April 2021. “By appointing Thomas Gangl we have succeeded in gaining an exceptional manager and expert from among our own ranks to take the helm of Borealis. In recent years, Thomas Gangl has not only played a significant part in shaping the refining and petrochemicals business in the OMV Group but was also responsible for establishing chemical recycling and thereby laying the foundation for our future circular economy,” commented Rainer Seele, Chairman of the Supervisory Board of Boreali and CEO of OMV.