CALGARY, Alberta—Longtime petrochemicals veteran Randy Woelfel has stepped down after four years as CEO of Nova Chemicals Corp., one of North America's largest polyethylene makers.
Woelfel also will no longer be a board member at Calgary, Alberta-based Nova, officials said in a May 1 news release. He'll be replaced by Chief Financial Officer Todd Karran, who has been with Nova for almost 30 years. Karran will serve as acting CEO.
Woelfel and the Nova board “felt that this was the time for Randy to move on to new challenges, and to make a leadership change,” Chairman Khadem Abdulla Al Qubaisi said in the release. Al Qubaisi also serves as managing director of International Petroleum Investment Corp., the state-owned Abu Dhabi firm that bought Nova for $500 million in early 2009.