VIENNA, Austria—Borealis A.G., the world's eighth-largest producer of polyethylene and polypropylene, has appointed Michael Schenk as its next vice president of treasury and funding.
The appointment is effective Jan. 1, 2023.
"For several years now, Michael Schenk has been fostering and developing a systematic, disciplined and innovative approach to risk management, financial control and governance processes at Borealis," Mark Tonkens, Borealis chief financial officer, said in a Dec. 12 news release. "His leadership experience and broad background in treasury, financial controlling and investment banking will be an asset to Borealis as it continues to develop its robust and well-diversified funding portfolio."
Schenk, who joined Borealis in 2008 as head of business unit controlling, wire and cable, succeeds Jan-Martin Nufer, who was appointed CFO of Borouge P.L.C. on Nov. 1.
Schenk will finish his post as director of internal audit and risk management at Borealis before taking the VP post in the new year.
At Borealis, Schenk also has worked as head of business finance for polyolefins and innotech; and as head of group corporate finance and investor relations.
Prior to 2008, Schenk worked for UBS Group in Zurich, Switzerland, and as an investment analyst at UBS Investment Bank in London.