ADNOC OMV Form Borouge Global Petrochemical Leader

ADNOC and OMV have officially revealed the executive leadership team and Supervisory Board for Borouge Group International AG, a new global polyolefins company.

The entity will be formed by combining shareholdings in Borouge Plc and Borealis, followed by the acquisition of NOVA Chemicals. The transaction is expected to be completed by the end of March 2026.

Strong Leadership Team Announced

Sultan Ahmed Al Jaber has been appointed Chairman of the Supervisory Board. He highlighted that the new company will play a key role in driving industrial growth and delivering long-term value.

Roger Kearns will take over as Chief Executive Officer (CEO), bringing over four decades of global experience in the chemicals sector.

Other key appointments include:

• Stefan Doboczky as Chief Commercial Officer (CCO)

• Hasan Karam as Chief Operating Officer (COO)

• Daniel Turnheim as interim Chief Financial Officer (CFO)

The permanent CFO is expected to be appointed by May 2026.

Board Structure and Transition Plan

The Supervisory Board will include representatives nominated by both ADNOC and OMV, ensuring balanced governance and strategic direction.

During the transition phase, Borouge Plc will continue its listing on the Abu Dhabi Securities Exchange (ADX). Key executives, including CEO Hazeem Sultan Al Suwaidi and CFO Jan-Martin Nufer, will remain in their roles to ensure operational continuity.

Vision: A Global Polyolefins Powerhouse

Borouge Group International AG aims to become a leading global player in the polyolefins sector. The company will benefit from:

• A diversified production base across three continents

• Strong operational and commercial expertise

• A robust capital structure and long-term shareholder support

With its global reach and integrated platform, the new entity is positioned to deliver consistent performance across market cycles and generate sustainable long-term returns.