Borealis has appointed Thomas Gangl, currently Executive Board member of OMV, as CEO.

The news follows the acquisition of the majority shares in Borealis by OMV.

Alfred Stern, who has led Borealis' transformation from a virgin polyolefins producer to a provider of circular polyolefin solutions, was appointed Executive Board member for Chemicals & Materials of OMV and will step down as CEO of Borealis.

The changes will take effect from 1 April, 2021.

"By appointing Thomas Gangl we have succeeded in gaining an exceptional manager and expert from among our own ranks to take the helm of Borealis," said chairman of the Supervisory Board of Borealis and OMV CEO, Rainer Seele.

"In recent years, Thomas Gangl has not only played a significant part in shaping the refining and petrochemicals business in the OMV Group, but was also responsible for establishing chemical recycling and thereby laying the foundation for our future circular economy."