LyondellBasell CEO Bob Patel will join WR Grace as CEO, effective January 2022, the US-based catalyst company said on Tuesday.
Patel announced his retirement at the end of 2021 from the US major producer of chemicals and polymers. He will take over from Hudson La Force, who has served as CEO of WR Grace since 2018.
WR Grace is in the process of completing its sale to conglomerate Standard Industries, which manages activist investment firm 40 North.
The deal should close in the fourth quarter. The company should then become a private company and its shares would no longer be traded on the New York Stock Exchange.
“We’re thrilled to welcome Bob to the Standard family as CEO of WR Grace,” said David Winter and David Millstone, Co-CEOs of Standard Industries. “Bob has for decades been a visionary leader in the industry, with a record of transforming businesses to achieve robust, sustainable growth.”
“He has proven himself to be the right person to lead Grace’s exceptional team and help architect Standard’s investment in the advanced materials space. He will be instrumental in taking Grace into its next chapter as we ensure a seamless transition post-close and embark on an ambitious growth strategy,” they added.
Patel joined LyondellBasell in 2010 and was initially appointed CEO in January 2015. During his tenure, he oversaw the acquisition of A Schulman, the construction of world-scale plants in the US Gulf Coast and new or expanded joint ventures in the US, China, South Korea and Thailand.
LyondellBasell said it is considering internal and external candidates to fill Patel’s role.
“It’s a privilege to join Standard Industries and to be asked to lead WR Grace through its next chapter,” Patel said. “Grace is an iconic company and a fundamentally strong business driven by its exceptionally talented employees. I look forward to working with the leadership team at Grace to take the company to new heights.”
