“We are proud that we can appoint an internal candidate as Borealis CEO to ensure a smooth handover and a continuation of the success story of Borealis”, adds Rainer Seele, Vice-Chairman of the Supervisory Board and CEO of OMV. “Alfred has positioned the Borealis polyolefins business in a difficult as well as in a favourable market environment very well and recently shaped the new strategic direction towards the Circular Economy and the endeavours in the area of plastics recycling. We are looking forward to a fruitful and valuable cooperation also in future.”
Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With its head office in Vienna, Austria, the company currently has around 6,600 employees and operates in over 120 countries. Borealis generated EUR 7.5 billion in sales revenue and a net profit of EUR 1,095 million in 2017. Mubadala, through its holding company, owns 64% of the company, with the remaining 36% belonging to Austria-based OMV, an integrated, international oil and gas company. Borealis provides services and products to customers around the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).
Alfred Stern joined Borealis in 2008 as Senior Vice President Innovation & Technology. He was promoted to the Executive Board of Borealis in July 2012.