Adnoc, OMV Appoint Leadership for Borouge Plastics Joint Venture
By Joe Stonor
Abu Dhabi National Oil Co. and Austria's OMV appointed Roger Kearns as chief executive of their new global plastics joint venture, Borouge Group International.
The companies also Thursday appointed Stefan Doboczky as chief commercial officer and Hasan Karam as chief operating officer of the venture. Daniel Turnheim has been appointed interim chief financial officer until a new external CFO is appointed in May, the companies said.
Adnoc CEO Sultan Al Jaber has been appointed chairman of the new group's supervisory board.
BGI was formed last year by the merger of two polyolefins producers, Austria-based Borealis and Abu Dhabi-based Borouge, and the acquisition of Nova Chemicals. Those transactions are expected to complete before the end of March, Adnoc and OMV said.
The company will be majority-owned by XRG, a joint venture between Adnoc and OMV. The pair will own 90% of XRG, with the remaining 10% listed on the Abu Dhabi Securities Exchange.
Kearns is currently president and chief executive of Nova Chemicals. Al Jaber also serves as Abu Dhabi's minister of industry.
Vienna-listed OMV shares climbed 1.4% in early afternoon trade.
Write to Joe Stonor at josephmichael.stonor@wsj.com
(END) Dow Jones Newswires
March 26, 2026 08:58 ET (12:58 GMT)
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