Thomas Gangl takes over as new Borealis CEO
Austrian chemical maker Borealis was acquired by oil and gas company OMV AG last year.
Thomas Gangl, an executive board member of oil and gas company OMV AG, which acquired majority ownership of Austrian chemical maker Borealis last year, officially takes the helm as Borealis’ new CEO effective April 1.
Gangl, 49, succeeds outgoing CEO Alfred Stern, who assumes the role of OMV’s Executive Board member for chemicals and materials.
“With Thomas Gangl, Borealis gains an exceptional manager and expert from among OMV’s ranks,” Borealis officials said in a March 31 news release. “With over 20 years of experience in OMV, Thomas Gangl has not only played a significant part in shaping the refining and petrochemicals business in the OMV Group but more recently was also responsible for establishing chemical recycling and thereby laying the foundation for OMV’s circular economy strategy.”
Vienna, Austria-based OMV owns 75 per cent of Borealis, with Mubadala Investment Co. owning the remaining 25 per cent.