Retiring CEO set to take helm at Maryland chem firm
Outgoing LyondellBasell CEO Bob Patel will become the chief executive of W.R. Grace in January after industrial company Standard Industries Holdings completes the acquisition of the Maryland chemical company.
Patel is set to retire at the end of the year from the chemical company LyondellBasell after leading it for 15 years. At W.R. Grace, he will succeed Hudson La Force, who has been CEO since 2018.
“We’re thrilled to welcome Bob to the Standard family as CEO of W.R. Grace,” said David Winter and David Millstone, co-CEOs of Standard Industries. “Bob has for decades been a visionary leader in the industry, with a record of transforming businesses to achieve robust, sustainable growth. He has proven himself to be the right person to lead Grace’s exceptional team and help architect Standard’s investment in the advanced materials space. He will be instrumental in taking Grace into its next chapter as we ensure a seamless transition post-close and embark on an ambitious growth strategy.”
Patel said it’s a “privilege” to join Standard Industries and to be asked to lead W.R. Grace through its next chapter.
Patel joined LyondellBasell,
which has headquarters in the Netherlands and Houston, in March 2010 after 20 years at Chevron Phillips Chemical Co.
As senior vice president of olefins and polyolefins Americas and then executive vice president of that same segment for Europe, Asia and International, Patel helped consolidate and reorganize operations in the United States and Europe as the company worked to boost the capacity of its plants along the Gulf Coast.
The company said it is considering internal and external candidates, but industry analysts say the new CEO will likely be an external hire.
“Our CEO Bob Patel made the choice to retire from LyondellBasell, which was fully supported by our board of directors,” a spokesperson for Lyondell said in an email. “We are grateful for his exceptional contributions and extremely proud of his commitment to driving sustainability at LyondellBasell. We are in a strong operational and financial position, with a very capable leadership team in place. We are focusing on ensuring a smooth transition and on identifying and naming a successor.”