NOVA Chemicals Corporation today announced that the company’s Board of Directors has appointed Luis Sierra as president and chief executive officer effective August 1, 2020. He will succeed Todd Karran, who previously announced his retirement.
“We are delighted to welcome Luis Sierra to NOVA Chemicals. He brings a wealth of knowledge and experience from a strong and successful career with BP. Over the last 10 years, NOVA Chemicals has grown substantially to become a leading player in the North American petrochemicals market. The board believes that Todd’s retirement provides the opportunity to introduce new leadership with the external perspective and renewed impetus required to drive the next phase of the company’s development.”
“We look forward to working with Luis and his team in successfully tackling the challenges presented by the current economic situation, and also embracing greater circularity in the petrochemicals sector,” said Musabbeh Al Kaabi, chairman of the Board of Directors.
Sierra joins NOVA Chemicals after a distinguished 30-year career at BP, where most recently he was CEO of BP’s aromatic chemicals business , leading a successful global petrochemicals business with operations in the United States, China, Belgium, Indonesia and Taiwan.
His career started with Amoco Corporation in business development where he progressively assumed responsibility within the company, including leadership roles in London, after the merger of BP and Amoco in 1998. In 2001, he returned to Chicago and was promoted to several executive roles, culminating in his appointment to CEO of BP global aromatics in 2016.
Sierra holds engineering degrees from the University of Florida and Georgia Institute of Technology (Georgia Tech) and an MBA from the University of Chicago. He has served on the Board of Directors of Junior Achievement of Chicago for over a decade. He led its 2019 Major Gifts fundraising campaign and has taught the financial literacy, work readiness and entrepreneurship curriculum in Spanish to elementary students.
Commenting on his appointment, Sierra said, “It’s an honor to assume leadership of such an outstanding organization and I appreciate the confidence the chairman and the Board have placed in me. NOVA Chemicals has a rich, proud history with a strong foundation and a bright future. I’m incredibly excited to work alongside our employees, customers, suppliers, governments and local community leaders to help shape a world where the plastic products vital to our lives are even better tomorrow than they are today.”
About NOVA Chemicals Corporation
NOVA Chemicals develops and manufactures chemicals and plastic resins that make everyday life healthier, easier and safer. Our employees work to ensure health, safety, security and environmental stewardship through our commitment to Sustainability and Responsible Care®. NOVA Chemicals, headquartered in Calgary, Alberta, Canada, is wholly owned ultimately by Mubadala Investment Company of the Emirate of Abu Dhabi, United Arab Emirates. Visit NOVA Chemicals at www.novachem.com.