LyondellBasell Reports Director Changes and Financials
Ticker: LYB · Form: 8-K · Filed: Nov 22, 2024 · CIK: 1489393
| Field | Detail |
|---|---|
| Company | Lyondellbasell Industries N.V. (LYB) |
| Form Type | 8-K |
| Filed Date | Nov 22, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $650,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, officer-changes, financial-reporting
TL;DR
LyondellBasell's 8-K shows director changes and financial updates.
AI Summary
LyondellBasell Industries N.V. filed an 8-K on November 22, 2024, reporting on the departure of directors, election of new directors, appointment of officers, and compensatory arrangements. The filing also includes financial statements and exhibits, with the earliest event reported on November 21, 2024.
Why It Matters
This filing indicates potential shifts in the company's leadership and governance structure, which could influence strategic decisions and operational direction.
Risk Assessment
Risk Level: low — The filing is a routine corporate disclosure and does not contain information suggesting immediate financial distress or significant operational risk.
Key Players & Entities
- LyondellBasell Industries N.V. (company) — Registrant
- November 22, 2024 (date) — Report Date
- November 21, 2024 (date) — Earliest Event Reported
FAQ
What specific changes were made regarding directors and officers?
The 8-K filing indicates the departure of directors, the election of new directors, and the appointment of certain officers, along with details on compensatory arrangements.
What is the primary purpose of this 8-K filing?
The primary purpose is to report on significant corporate events including changes in the board of directors and executive officers, as well as to file financial statements and exhibits.
When was the earliest event reported in this filing?
The earliest event reported in this filing occurred on November 21, 2024.
What is LyondellBasell Industries N.V.'s state of incorporation?
LyondellBasell Industries N.V. is incorporated in The Netherlands.
What are the key items reported under 'ITEM INFORMATION'?
The key items reported are 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers' and 'Financial Statements and Exhibits'.
Filing Stats: 1,031 words · 4 min read · ~3 pages · Grade level 11.1 · Accepted 2024-11-22 16:16:02
Key Financial Figures
- $650,000 — Izquierdo will receive a base salary of $650,000 and will be eligible to participate in
Filing Documents
- tm2428655d1_8k.htm (8-K) — 38KB
- tm2428655d1_ex10-1.htm (EX-10.1) — 14KB
- tm2428655d1_ex10-2.htm (EX-10.2) — 10KB
- tm2428655d1_ex99-1.htm (EX-99.1) — 6KB
- tm2428655d1_ex10-1img001.jpg (GRAPHIC) — 17KB
- tm2428655d1_ex10-2img001.jpg (GRAPHIC) — 15KB
- 0001104659-24-122110.txt ( ) — 343KB
- lyb-20241121.xsd (EX-101.SCH) — 3KB
- lyb-20241121_def.xml (EX-101.DEF) — 26KB
- lyb-20241121_lab.xml (EX-101.LAB) — 35KB
- lyb-20241121_pre.xml (EX-101.PRE) — 25KB
- tm2428655d1_8k_htm.xml (XML) — 7KB
02 Departure of Directors or
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On November 22, 2024, LyondellBasell Industries N.V. (the "Company") announced that effective March 1, 2025, Michael McMurray will retire as Chief Financial Officer. In connection with his retirement, the Board of Directors of the Company has appointed Agustin Izquierdo to serve as Executive Vice President and Chief Financial Officer, also effective March 1, 2025. Until assuming the role of Chief Financial Officer, Mr. Izquierdo will continue to serve as the Company's Senior Vice President, O&P Americas & Refining. Mr. McMurray will continue in an advisory role at the Company from March 2025 until full retirement in March 2026. Mr. Izquierdo, age 47, joined the Company in November 2022 as Vice President, Strategy & Finance, Intermediates & Derivatives and moved into the role of Senior Vice President, O&P Americas & Refining in April 2024. Prior to joining the Company, he served in roles with increasing responsibility at BASF from 2009 to 2022, including as General Manager; Business Director, Americas; and VP, Planning, Finance and Digital. Mr. Izquierdo began his career at Morgan Stanley's Investment Banking Division in 2000. Mr. Izquierdo received an MBA from the University of Chicago Booth School of Business and a Master's in Engineering and a Bachelor's in Actuarial Science from the Universidad Nacional Autonoma de Mexico. There are no arrangements or understandings between Mr. Izquierdo and any other persons pursuant to which he was selected as Chief Financial Officer. There are also no family relationships between Mr. Izquierdo and any director or executive officer of the Company and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. In connection with Mr. McMurray's retirement and transition planning, the Company and Mr
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits 10.1 Letter Agreement dated November 21, 2024 between Michael McMurray and the Company. 10.2 Appointment Letter dated November 21, 2024 from the Company to Agustin Izquierdo. 99.1 Press Release dated November 22, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the un dersigned, hereunto duly authorized. LYONDELLBASELL INDUSTRIES N.V. Date: November 22, 2024 By: /s/ Jeffrey A. Kaplan Jeffrey A. Kaplan Executive Vice President and General Counsel