On Friday, ADNOC and OMV announced the appointment of executives to the management team and supervisory board of Borealis International AG, marking a significant advancement toward establishing a global leader in the polyolefins sector through the integration of their stakes in Borealis and Borouge, followed by the acquisition of Nova Chemicals.
The executive team comprises seasoned leaders with decades of experience in the chemicals, commodities, and refining industries, possessing in-depth knowledge of the commercial and operational affairs of the entities that comprise Borealis International AG.
The team is expected to officially assume its roles upon the completion of the establishment deals, which are scheduled to be finalized by the end of March 2026.
Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and managing director and CEO of ADNOC and its group of companies, has been appointed as the chair of the supervisory board of Borealis International AG.
In his statement, Dr. Sultan Ahmed Al Jaber expressed that Borealis International AG is planned to become a leading global firm, playing a pivotal role in fostering a new phase of growth in the sector and delivering long-term returns for shareholders, aligning with the strategic vision of both ADNOC and OMV.
He expressed confidence that the exceptional expertise of the newly appointed management team in advanced technology and global market development would enable effective oversight of the group’s plans to meet its objectives and supply the essential materials the world needs.
Roger Kearns has been named the CEO of Borealis International AG. He is currently the president and CEO of Nova Chemicals, bringing over 40 years of global experience in the chemicals sector.
Kearns emphasized that the “Borealis International” group boasts exceptional flexibility through its operational scale, innovation support, and strong global presence, which will enable it to deliver robust and consistent performance throughout economic cycles, generating sustainable and long-term value.
He also noted that from the outset, the focus will be on ensuring business continuity to support clients, strengthen shareholder confidence, and execute plans in a disciplined manner, aiming to establish a leading global position for the group in the polyolefins market.
Dr. Stefan Dobutzki has been appointed as the chief commercial officer of Borealis International AG. He is currently the CEO of Borealis and has over 30 years of global experience prior to joining the company.
Dr. Hassan Karam will take on the role of chief operations officer at Borealis International AG, having served in the same capacity at Borouge PLC since May 2023. He has three decades of experience in refining and petrochemical operations, including executive positions at ADNOC Refining.
Daniel Turnheim, currently the CFO at Borealis, will serve as the interim CFO for Borealis International AG, with a permanent CFO expected to be appointed by May 2026.
Additionally, ADNOC and OMV announced the nominated members for the supervisory board of Borealis International AG. ADNOC has nominated Dr. Sultan Ahmed Al Jaber, Musabbeh Al Kaabi, Fatima Mohammed Al Nuaimi, Dr. Reiner Seele, and Klaus Frölich.
OMV’s nominations include Alfred Stern, Reinhard Florey, Martin van Koten, Edith Hlawaty, and Georg Knill.
Hazem Sultan Al Suwaidi will continue in his role as CEO of Borouge PLC, which remains listed on the Abu Dhabi Securities Exchange until the proposed share swap to Borealis International AG is executed.
Jan-Martin Nover will maintain his position as CFO at Borouge PLC during this transitional period, while Roland Jansen will continue as the chief marketing officer, and Dr. Hassan Karam will remain as chief operations officer.
The announcement of the executive team is a crucial step in creating a leading global firm in the polyolefins industry, demonstrating substantial progress towards the establishment of Borealis International AG. The group is poised to capitalize on its extensive operational presence in the polyolefins sector across a broad geographical range, promising integrated operations across three continents and the capability to meet customer demands worldwide.