ADNOC and OMV have announced the executive leadership team and Supervisory Board of Borouge Group International AG, a global polyolefins champion to be formed through the combination of their shareholdings in Borouge and Borealis, followed by the acquisition of NOVA Chemicals.
The new executive team combines decades of senior leadership experience across the international chemicals, commodities and refining sectors with deep commercial and operational experience of Borouge Group International AG’s constituent businesses.
According to the statement, the executive team will assume their roles upon the completion of the Borouge Group International AG transactions, which are on track to close before the end of March 2026.
Experienced leadership team to drive Borouge Group International
Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC and Executive Chairman of XRG, has been appointed Chairman of the Supervisory Board of Borouge Group International AG.
Sultan Ahmed Al Jaber Minister of Industry and Advanced Technology Chairman -Supervisory Board of Borouge Group International AG
“Borouge Group International is set to become a leading global industry powerhouse that will drive the next wave of industrial growth and deliver long-term returns for our shareholders, aligned with the long-term strategic vision of ADNOC and OMV. This world-class leadership team underscores our ambition, bringing strong expertise in advanced technologies and global market development, to deliver the essential materials the world needs. I look forward to working closely with them.”
Roger Kearns will become Borouge Group International AG’s Chief Executive Officer (CEO). Currently President and CEO of NOVA Chemicals, Roger brings over 40 years of global experience in the chemicals sector.
Roger Kearns, Chief Executive Officer of Borouge Group International AG, said, “Borouge Group International is designed for resilience – combining scale, innovation, operational strength and global reach to deliver consistent performance across cycles and sustainable value over the long term.”
Dr. Stefan Doboczky will become Borouge Group International AG’s Chief Commercial Officer (CCO). He currently serves as CEO of Borealis. Prior to joining Borealis, he built a global career spanning more than 30 years.
Dr. Hasan Karam will become Chief Operating Officer (COO) of Borouge Group International AG and has served as Chief Operating Officer of Borouge Plc since May 2023. He has three decades of experience in refinery and petrochemical operations, including senior roles at ADNOC Refining.
In addition, Daniel Turnheim, currently Chief Financial Officer (CFO) of Borealis, will become interim CFO at Borouge Group International AG until the appointment of a new permanent CFO for the business, which is expected to take place by May 2026.
ADNOC and OMV unveil supervisory board members
ADNOC and OMV also announced the shareholder-nominated members of Borouge Group International AG’s Supervisory Board.
Board members nominated by ADNOC are:
Dr. Sultan Ahmed Al Jaber (Chairman),
Mussabeh Al Kaabi,
Fatema Al Nuaimi,
Dr. Rainer Seele
Klaus Froehlich
Board members nominated by OMV are:
Dr. Alfred Stern,
Reinhard Florey,
Martijn van Koten,
Dr. Edith Hlawati
Georg Knill
Expansion supported by strong leadership and global infrastructure
As Borouge Plc will retain its listing on the Abu Dhabi Securities Exchange (ADX) until the proposed tender offer to convert Borouge Plc shares to Borouge Group International AG shares. Hazeem Sultan Al Suwaidi will remain as CEO of Borouge Plc. Jan-Martin Nufer will continue in his role as CFO of Borouge Plc during the transition period and Roland Jannsen remaining as Chief Marketing Officer. Dr. Hasan Karam will also continue in his role as Chief Operating Officer of Borouge plc.
The new company will benefit from one of the most geographically diversified platforms in the polyolefins sector, integrating production across three continents and serving customers internationally.
This truly global reach, combined with long-term shareholders and a robust capital structure, will deliver resilience throughout the business cycle and an unmatched ability to drive sustainable shareholder returns, as per the statement.
