VIENNA, Austria—Thomas Gangl will succeed Alfred Stern as CEO of Borealis A.G., an international provider of polyolefins, beginning April 1.
The move follows OMV's acquisition of the majority shares of Borealis. Gangl, 49, previously worked as an executive board member with OMV, also based in Vienna.
"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," said Rainier Seele, chairman of the supervisory board of Borealis A.G. "In recent years, Gangl has not only played a significant part in shaping the refining and petrochemicals business in the OMV Group but was responsible for establishing chemical recycling and thereby laying the foundation for our future circular economy."
Stern, 56, will transition to his new role as OMV executive board member for materials and chemicals, stepping down as CEO of Borealis April 1.
Borealis said in a Feb. 4 news release that Stern successfully led Borealis' from a virgin polyolefins producer to a "leading provider of advanced and circular polyolefin solutions."