“Thomas Gangl is a seasoned executive with a wealth of experience at OMV, followed by his most recent role as Borealis CEO. I thank him for his valuable contributions to the OMV Group spanning over two decades and wish him all the best for his future endeavors,” said Daniela Vlad, Member of the Executive Board of OMV and Chairwoman of the Supervisory Board of Borealis.

Thomas Gangl, starting as a process engineer at OMV in 1998, held various roles before becoming Chief Downstream Operations Officer in 2019. He increased OMV’s Borealis stake to 75%, made key investment decisions for green hydrogen electrolysis and biofuel production, and established OMV’s ReOil chemical recycling process.

Appointed Borealis CEO in 2021, Thomas has led key initiatives including the sale of the nitrogen business, acquisitions of Rialti Spa and Integra Plastics AD, and Borouge’s IPO. He also made the final investment decision for the Borouge 4 plant, set to be the world’s largest polyolefin complex.

Gangl is said to leave Borealis to start a new role as CEO of Liberty Steel Group's European business as of July 1, 2024.