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05-14-2009

LyondellBasell: New CEO

Jim Gallogly

Jim Gallogly

The Supervisory Board of LyondellBasell has named James L. (Jim) Gallogly chief executive officer, effective immediately. Gallogly will succeed Volker Trautz who has announced his retirement from the company. The terms of the appointment are subject to the approval of the U.S. bankruptcy court overseeing LyondellBasell’s reorganization plan.

Gallogly, who was born in Canada, comes to LyondellBasell from ConocoPhillips where he served as executive vice president of exploration & production, and before that as executive vice president of refining, marketing and transportation. From 2000 to 2006, he was president and chief executive officer of Chevron Phillips Chemical Company.

Gallogly’s role as new CEO will be to harness the initiatives that are currently in motion, and manage the business and operations as the company successfully transitions out of Chapter 11 near year end.

Earlier this year, LyondellBasell voluntarily filed to reorganize its U.S. operations and certain European holding companies in order to restructure the company’s debts and reposition operations for future growth.

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