UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 25, 2021, LyondellBasell Industries N.V. (the “Company”) announced that Bhavesh V. (Bob) Patel, Chief Executive Officer and Director of LyondellBasell Industries N.V. (the “Company”), has provided the Company with notice of his intent to retire. Mr. Patel will be employed through December 31, 2021 under the terms of the Employment Agreement dated January 12, 2015 (as amended March 6, 2017 and November 30, 2018, the “Employment Agreement”) between Mr. Patel, the Company, and its wholly-owned subsidiary, Lyondell Chemical Company.
In connection with his retirement, Mr. Patel will receive the payments and benefits consistent with those described under the section titled “Executive Compensation—Potential Payments Upon Termination or Change in Control—Retirement” in the Company’s 2020 proxy statement and as set forth in the Employment Agreement.
Upon departure, Mr. Patel will also resign from the Company’s Board of Directors; Mr. Patel’s resignation is not due to any disagreements with the Company on any matter related to its operations, policies, or practices.
A copy of the news release relating to this disclosure is furnished herewith as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
99.1 | Press Release dated August 25, 2021 |
104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. |
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 undersigned, hereunto duly authorized.
LYONDELLBASELL INDUSTRIES N.V. | ||
Date: August 25, 2021 | By: | /s/ Jeffrey A. Kaplan |
Jeffrey A. Kaplan | ||
Executive Vice President and Chief Legal Officer |