Thomas Gangl appointed new Borealis CEO as of 1 April 2021

Following the acquisition of the majority shares in Borealis by OMV AG and the intensified and close cooperation between OMV and Borealis, the Supervisory Board of Borealis has decided to appoint Thomas Gangl (49), currently Executive Board member of OMV AG, as CEO of Borealis.

Alfred Stern (56), who has successfully led Borealis’ transformation from a virgin polyolefins producer to a leading provider of advanced and circular polyolefin solutions, and European market leader in the mechanical recycling of plastics, was appointed Executive Board member for Chemicals & Materials of OMV AG and will step down as CEO of Borealis AG. Thomas Gangl will take over the role as Borealis CEO.

These changes will take effect as of 1 April 2021.

“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. In recent years, Thomas Gangl has not only played a significant part in shaping the refining and petrochemicals business in the OMV Group but was also responsible for establishing chemical recycling and thereby laying the foundation for our future circular economy,” comments Rainer Seele, Chairman of the Supervisory Board of Borealis AG and CEO of OMV.

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Borealis is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers and the mechanical recycling of plastics. We leverage our polymers expertise and decades of experience to offer value adding, innovative and circular material solutions for key industries. In re-inventing for more sustainable living, we build on our commitment to safety, our people and excellence as we accelerate the transformation to a circular economy and expand our geographical footprint.

With head offices in Vienna, Austria, Borealis has 7,500 employees and operates in over 120 countries. In 2020, Borealis generated EUR 6.8 billion in sales revenue and a net profit of EUR 589 million. OMV, the Austria-based international oil and gas company, owns 75% of Borealis, while the remaining 25% is owned by a holding company of the Abu-Dhabi based Mubadala. We supply services and products to customers around the globe through Borealis and two important joint ventures: Borouge (with the Abu Dhabi National Oil Company, or ADNOC, based in UAE); and Baystar™ (with Total, based in the US).