Alfred Stern to Take over as Borealis CEO from July

Borealis, the Austrian producer of polyolefins, base chemicals and fertilisers, has announced the appointment of Mr. Alfred Stern as its new CEO in place of Mr. Mark Garrett, who has decided to step down. “After more than 11 years as CEO of Borealis, Mr. Mark Garrett has decided to leave the company to pursue a new career path,” the company informed in a press note.

Mr. Stern, the company’s Executive Vice President who is currently responsible for the Polyolefin Business and Innovation, will take over as CEO effective from July 2, 2018.

Mr. Garrett joined Borealis in 2007, taking over a company in the final stages of a successful scrap and build programme in Europe. The 11 years of Mr. Garrett’s tenure represented a significant phase of growth and geographic expansion for the company with both volumes and net profits tripling. Over the time there were many significant projects including the joint venture (with Abu Dhabi National Oil Company) projects Borouge 2 and Borouge 3 that resulted in Borouge’s capacity growing from 0.6-mtpa to 4.5-mtpa. In 2016/2017 Mr. Garrett initiated the next growth phase for Borealis by filling the pipeline with major investment projects like the joint venture with Total and Nova Chemicals in Texas (USA), the PDH plant in Kallo, Belgium and the further extension of Borouge.