Westlake Implements Succession Plan
15 Julio 2024 - 8:28AM
Business Wire
Jean-Marc Gilson, Experienced Chemicals
Industry Executive, Appointed President and CEO
Albert Chao and James Chao to Remain Actively
Engaged as Executive Chairman and Senior Chairman of the Board,
Respectively
Westlake Corporation (NYSE: WLK) (the “Company” or “Westlake”)
today announced that Jean-Marc Gilson, who most recently served as
President and Chief Executive Officer of Mitsubishi Chemical Group
Corporation, has been appointed by the Board of Directors to serve
as President and Chief Executive Officer of Westlake. Jean-Marc
Gilson succeeds Albert Chao, who will transition to become
Executive Chairman of the Westlake Board of Directors. James Chao,
the current Chairman of the Board, will become Senior Chairman of
the Westlake Board of Directors. These appointments take effect
today.
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Jean-Marc Gilson, new President and Chief
Executive Officer of Westlake Corporation (Photo: Business
Wire)
“I am excited to welcome Jean-Marc as the newest addition to
Westlake’s management team. Westlake is in a very strong position
supported by a world-class team, and, having served as the CEO of
Westlake for the last 20 years, now is the right time to implement
our succession plan,” said Albert Chao. “Jean-Marc brings 25 years
of proven executive experience in the chemicals industry in the
United States, Europe and Asia, during which he has led
international companies and delivered impressive results. We are
confident that Jean-Marc is the right leader to help us build on
our track record of delivering market-leading results, disciplined
growth and sustained shareholder value creation.”
James Chao said, “This announcement is the culmination of a
thoughtful succession planning process by our Board to position
Westlake for the future. We are incredibly proud of the Company and
culture we have built and believe Jean-Marc will fit in seamlessly
as we continue to execute our successful strategy and family
culture of long-term value creation to begin Westlake’s next
chapter.”
“I am honored and humbled to become the second, and first
non-family, CEO of Westlake,” said Jean-Marc Gilson. “I have long
admired Westlake as a best-in-class company at the forefront of
delivering life-enhancing products through innovation in essential
materials and building products. I look forward to working with
Albert, James and the entire management team and Board to advance
the good work underway as we deliver on our mission to responsibly
serve our customers and return enhanced value to our
shareholders.”
In connection with today’s announcement, Jean-Marc Gilson will
also become President and CEO and a director of Westlake Chemical
Partners GP LLC, the general partner of Westlake Chemical Partners
LP (NYSE: WLKP), and Albert Chao will become Executive Chairman and
James Chao will become Senior Chairman of the Westlake Chemical
Partners GP LLC Board of Directors.
About Jean-Marc Gilson
A seasoned leader in the chemical industry with a proven ability
to deliver sustained financial performance, Jean-Marc Gilson, 60,
most recently served as President and CEO of Mitsubishi Chemical
Group Corporation, an international chemical company based in Japan
with more than $30 billion in revenue.
From 2014 to 2020, Jean-Marc Gilson served as Chief Executive
Officer of Roquette, a family-owned global leader in plant-based
ingredients and a leading provider of pharmaceutical excipients.
Before that, Mr. Gilson served as Vice-Chairman and Chief Operating
Officer of NuSil Technology, a U.S.-based global manufacturer of
medical- and space-grade silicone technology. Earlier in his
career, Mr. Gilson held various leadership roles at Dow Corning,
including Executive Vice President, Specialty Chemicals Business,
before becoming CEO of Avantor Performance Materials.
Jean-Marc Gilson holds a Master of Science in Chemical
Engineering from the University of Liège in Belgium and a Master of
Business Administration from the International Institute for
Management Development in Switzerland.
About Westlake
Westlake is a global manufacturer and supplier of materials and
innovative products that enhance life every day. Headquartered in
Houston, with operations in Asia, Europe and North America, we
provide the building blocks for vital solutions — from housing and
construction, to packaging and healthcare, to automotive and
consumer. For more information, visit the company’s web site at
www.westlake.com.
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