LyondellBasell Appoints New EVP of Manufacturing
Ticker: LYB · Form: 8-K · Filed: Mar 17, 2025 · CIK: 1489393
| Field | Detail |
|---|---|
| Company | Lyondellbasell Industries N.V. (LYB) |
| Form Type | 8-K |
| Filed Date | Mar 17, 2025 |
| Risk Level | low |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, compensation, manufacturing
Related Tickers: LYB
TL;DR
LyondellBasell names new manufacturing chief, Chris Smith, with $550K base + bonus + stock.
AI Summary
LyondellBasell Industries N.V. announced on March 17, 2025, that its Board of Directors appointed Christopher D. Smith as Executive Vice President, Manufacturing, effective March 11, 2025. Smith will receive an annual base salary of $550,000, a target annual bonus of 100% of his base salary, and a long-term incentive award with a target value of $1,500,000 for 2025. He will also receive a restricted stock award with a target value of $1,000,000, vesting over three years.
Why It Matters
The appointment of a new Executive Vice President of Manufacturing can signal strategic shifts in operational focus or leadership for LyondellBasell, potentially impacting production efficiency and future investments.
Risk Assessment
Risk Level: low — This filing is a routine executive appointment and compensation disclosure, with no immediate financial or operational risks indicated.
Key Numbers
- $550,000 — Base Salary (Annual compensation for new EVP of Manufacturing)
- 100% — Bonus Target (Annual bonus potential for new EVP of Manufacturing)
- $1,500,000 — LTI Target (Long-term incentive award for new EVP of Manufacturing)
- $1,000,000 — Stock Award Target (Restricted stock award for new EVP of Manufacturing)
Key Players & Entities
- LyondellBasell Industries N.V. (company) — Registrant
- Christopher D. Smith (person) — Appointed Executive Vice President, Manufacturing
- $550,000 (dollar_amount) — Annual base salary for Christopher D. Smith
- 100% (dollar_amount) — Target annual bonus percentage for Christopher D. Smith
- $1,500,000 (dollar_amount) — Target annual incentive award value for Christopher D. Smith
- $1,000,000 (dollar_amount) — Target restricted stock award value for Christopher D. Smith
- March 11, 2025 (date) — Effective date of appointment
- March 17, 2025 (date) — Date of report
FAQ
Who has been appointed as the new Executive Vice President of Manufacturing at LyondellBasell?
Christopher D. Smith has been appointed as the new Executive Vice President, Manufacturing.
When was Christopher D. Smith's appointment effective?
Christopher D. Smith's appointment was effective March 11, 2025.
What is Christopher D. Smith's annual base salary?
Christopher D. Smith's annual base salary is $550,000.
What is the target value of Christopher D. Smith's long-term incentive award for 2025?
The target value of Christopher D. Smith's long-term incentive award for 2025 is $1,500,000.
What is the vesting period for Christopher D. Smith's restricted stock award?
Christopher D. Smith's restricted stock award vests over three years.
Filing Details
This Form 8-K (Form 8-K) was filed with the SEC on March 17, 2025 by Christopher D. Smith regarding LyondellBasell Industries N.V. (LYB).