Contract Renewal for Borealis CEO
Borealis AG, Vienna, Austria, reappointed Mark Garrett (52) as Chief Executive (CEO) effective through June 2019. Under the new contract extension, he will stay on through at least another five years.
First appointed Borealis CEO in 2007, Garrett has guided the company through its transformation from a European organization focused on polyolefins to an international one supported by three separate profit centers: polyolefins, base chemical and fertilizers, as well as Borouge, its joint venture with the Abu Dhabi National Oil Company (ADNOC). Under his tenure, significant investments have been made in production facilities in Stenungsund and Linz, demonstrating commitment to long-term growth in European markets.
Under Garrett’s lead, the company has gone through a period of acquisitions of important strategic assets in both polyolefins and fertilizers, including DEXPlastomers (now Borealis Plastomers), GPN (now Borealis Chimie), Rosier, Neochim AD, and others.
Garrett has steered the company through a period of major structural reorganization and supervised extensive corporate rebranding efforts timed to coincide with Borealis’ 20th anniversary in 2014. Under his watch, the importance of leading-edge innovation has been underscored by continuing advancements and upgrades of proprietary Borealis technologies and by the inauguration of the company’s International Innovation Headquarters in Linz in 2009. Corporate social responsibility has also been an area of increased focus, for example through the establishment of the Borealis Social Fund.
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