Thomas Gangl replaces Alfred Stern as Borealis CEO

Thomas Gangl. Photo Credit: Borealis

Thomas Gangl, an executive board member of oil and gas company OMV AG, which acquired majority ownership of Austrian chemical maker Borealis last year, has been appointed as Borealis’ new CEO.

Gangl, 49, replaces outgoing Borealis CEO Alfred Stern effective April 1, 2021. Stern has been appointed executive board member for chemicals and materials at OMV.

“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,” Borealis officials said in a Feb. 5 news release. “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.”

Vienna, Austria-based OMV owns 75 per cent of Borealis, with Mubadala Investment Company owning the remaining 25 per cent.