Nova Chemicals hires industry veteran Luis Sierra to replace retiring CEO

Nova Chemicals hires industry veteran Luis Sierra to replace retiring CEO

CALGARY — Nova Chemicals Corp. has appointed a veteran petrochemical industry executive to replace CEO Todd Karran, who previously announced his retirement.

The Calgary-based operator of plastic resin and chemical manufacturing plants in Alberta, Ontario, Pennsylvania, Ohio and Louisiana says Luis Sierra will join the company effective Aug. 1.

It says Sierra has had a 30-year career at BP Plc, most recently as CEO of BP’s aromatic chemicals business, with operations in the United States, China, Belgium, Indonesia and Taiwan.

Last week, BP announced it would sell its remaining chemical businesses, including its aromatics assets, for $5 billion to U.K.-based Ineos, part of a strategy to shore up its financial strength and transition away from being a traditional oil company.

Nova Chemicals is wholly owned by Mubadala Investment Company of the Emirate of Abu Dhabi, United Arab Emirates.

Chairman Musabbeh Al Kaabi says Sierra has been asked to help the company take on challenges posed by the current economic situation and drive its next development phase.

This report by The Canadian Press was first published July 7, 2020.

The Canadian Press

Business

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

UPDATED: Red Deer has nine active COVID-19 cases

Number of cases increased by 107 Friday

“My world exploded,” says Bentley-area farmer who’s swather was struck by a motorist

Dennis Duncan was a mile from home when his swather was struck by another travelling at high speeds

Man sentenced to 7 years for gas-and-dash death of Alberta gas station owner

Ki Yun Jo was killed after Mitchell Sydlowski sped off in a stolen cube van without paying for $198 of fuel

New owners of Sylvan Lake Canadian Tire looking to be big part of the community

Randy and Alison Patton are the new owners of Sylvan Lake Canadian Tire

Notley to stay on as Alberta NDP leader for 2023 provincial election

The NDP took almost all of Edmonton but few seats outside of the city

Young Canadians have curtailed vaping during pandemic, survey finds

The survey funded by Heart & Stroke also found the decrease in vaping frequency is most notable in British Columbia and Ontario

B.C., Alberta sending nearly 300 fire personnel by Friday to help battle wildfires in Oregon

Some 230 firefighters, most from British Columbia but including a number from Alberta, will be deployed Friday

Death of mother grizzly a ‘big loss’ for bear population in Banff park: experts

The bear, known as No. 143, spent most of her time in the backcountry of Banff

U.S.-Canadian border closure reportedly could extend through November

The border between the two countries has been closed to non-essential travel since March 21

Threat of fall federal election eases as COVID-19 cases continue to rise

Congeniality emerged as fears of second wave of COVID-19 were heightened after another case increase

Intoxicated male arrested by Ponoka RCMP passes away after fall

Incident remains under investigation by ASIRT

Most Read