HOUSTON, May 6 /PRNewswire-FirstCall/ -- Lyondell Chemical Company (NYSE: LYO) announced that Kevin DeNicola will become Senior Vice President and Chief Financial Officer upon the retirement of Robert T. Blakely on June 30, 2002. As Chief Financial Officer, DeNicola will have responsibility for the treasury, accounting and controls, tax, internal audit and investor relations functions, as well as corporate development activities.
"Kevin's broad experience with our company and the chemical industry provide a unique set of skills for this critical position," said Dan F. Smith, President and Chief Executive Officer for Lyondell. "He has been a key player in the development and execution of the strategy that has created a solid foundation for Lyondell's future success, including the formation of Equistar, the acquisition of ARCO Chemical and the subsequent implementation of permanent financing for that acquisition. I look forward to his leadership as we continue to improve our financial position and capitalize on improvements in the business environment.
"We are appreciative of the contributions of Bob Blakely over the past three years. Under his leadership, we have added important new talent to the company's financial operations, improved our financial systems and controls and significantly improved management of working capital."
DeNicola is currently Vice President, Corporate Development for Lyondell, with responsibility for strategic planning, mergers and acquisitions for the enterprise portfolio. He joined the company in 1990 and has held management positions in corporate planning, business management and investor relations. DeNicola began his career with Monsanto and worked with Ernst & Young, LP prior to joining Lyondell. A Certified Public Accountant, DeNicola has a BS degree in chemistry from High Point University, an MS degree in chemical engineering from the University of Virginia and an MBA in accounting and finance from Rice University.
Robert Blakely joined Lyondell as Chief Financial Officer in 1999. Previously, he was Executive Vice President and Chief Financial Officer of Tenneco, Inc.
Lyondell Chemical Company, (www.lyondell.com ), headquartered in Houston, Texas, is the world's largest producer of propylene oxide (PO); the world's number three supplier of TDI (toluene diisocyanate); a leading producer of propylene glycol; a leading producer of other PO derivatives such as BDO (butanediol) and PGE (propylene glycol ether); and a producer of styrene monomer and MTBE as co-products of PO production. Through its 41% interest in Equistar Chemicals, LP, Lyondell also is one of the largest producers of ethylene, propylene and polyethylene in North America and a leading producer of polypropylene, ethylene oxide, ethylene glycol, high value-added specialty polymers and polymeric powder. Through its 58.75% interest in LYONDELL-CITGO Refining LP, Lyondell is one of the largest refiners in the United States, processing extra heavy Venezuelan crude oil to produce gasoline, low sulfur diesel and jet fuel. Lyondell is the third largest methanol producer in the U.S., through its 75% interest in Lyondell Methanol Company, L.P.
The statements in this release relating to matters that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Actual results could differ materially, based on factors including, but not limited to, future global economic conditions, further increases in raw material and/or energy costs, access to capital markets, industry production capacity and operating rates, the supply/demand balance for Lyondell's and its joint ventures' products, competitive products and pricing pressures, technological developments, changes in governmental regulations and other risk factors. For more detailed information about the factors that could cause actual results to differ materially, please refer to Lyondell's Annual Report on Form 10-K for the year ended December 31, 2001, filed with the Securities and Exchange Commission in March 2002, Lyondell's Quarterly Report on Form 10-Q for the quarter ended March 31, 2002, which will be filed in May 2002, and the proxy statement that Lyondell will file with the Securities and Exchange Commission with respect to its Special Meeting of Shareholders relating to the transactions with Occidental.
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X62457234
SOURCE Lyondell Chemical Company
Web site: http: //www.lyondell.com
Photo: NewsCom: http: //www.newscom.com/cgi-bin/prnh/20000921/LYOLOGO AP Archive: http://photoarchive.ap.org PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840
Company News On-Call: http: //www.prnewswire.com/comp/137787.html
CONTACT: media, Anne M. Knisely, +1-713-309-2643, or investors, Patrick Quarles, +1-713-309-7141, both of Lyondell Chemical Company
CAPTION: LYOLOGO LYONDELL LOGO Lyondell Logo. (PRNewsFoto)[PM] HOUSTON, TX USA 09/21/2000
