LyondellBasell announces new contract with CEO James Gallogly LyondellBasell announced that it has entered into a new contract with CEO James Gallogly. Gallogly's new contract will become effective May 14, 2014. Gallogly's original employment agreement was entered into in May 2009 when he joined the company during its bankruptcy proceedings and tied most of his realizable compensation to equity awards. Those awards, pursuant to their original terms, will largely be fully vested in May 2014. In order to provide continuity of management and to ensure continued pay-for-performance, the supervisory board determined that a new agreement with Gallogly was in the best interest of the company and its stakeholders. The majority of Gallogly's potential compensation under the new agreement will be tied to company performance and the creation of shareholder value.
News For LYB From The Last 14 Days
Check below for free stories on LYB the last two weeks.