PHILADELPHIA, Dec. 8, 2010 /PRNewswire/ -- The nomination of Carlos Fadigas as CEO of Braskem S.A. has been approved by the Company's Board of Directors. Fadigas headed operations as CEO of Braskem America since the start of 2010. This announcement follows shortly after current CEO of Braskem S.A. Bernardo Gradin released the succession plan for his leadership and identified Fadigas as his successor.
The selection of Carlos Fadigas as the new CEO of Braskem S.A. is part of the leadership renewal and succession process of the Odebrecht Organization, Braskem's main shareholder, under which leadership change is seen as a continuous and natural process.
Under Bernardo Gradin's leadership, Braskem concluded its strategy of consolidating the Brazilian market and established a strong international presence. Highlights include the acquisitions of Quattor in Brazil and the polypropylene business from Sunoco Chemicals in the U.S., known today as Braskem America. These acquisitions led to Braskem becoming the largest producer of thermoplastic resins in the Americas. Also under Gradin's leadership, Braskem defined its new goal of becoming the global leader in sustainable chemistry by 2020 and began producing green polyethylene made from sugarcane ethanol, becoming the largest biopolymer producer in the world.
Carlos Fadigas was an active participant in the negotiations that resulted in the acquisitions of Quattor and Sunoco Chemicals. At Braskem America, Fadigas' leadership helped achieve outstanding results, including production and quality records and customer growth.
Fadigas holds a master's degree in business administration from the Institute for Management Development (IMD) in Switzerland, as well as a bachelor's degree from the University of Salvador (Unifacs) in Bahia, Brazil. He has worked in the petrochemical industry since 1992, starting at OPP and Trikem, which are two of the companies that later became Braskem. From 2002 to 2006, he served as the CFO of Odebrecht Engineering and Construction, until he returned to Braskem as CFO and Investor Relations Officer - a position he held until he was announced CEO of Braskem America.
At Braskem S.A., Fadigas will continue to implement the Company's growth strategy, focusing on the 2020 vision of global leadership in sustainable chemistry. Another focus will be Brazilian and international investments including the integrated polyethylene plant in Mexico (Ethylene XXI project) and doubling the capacity of a PVC plant in Brazil. Braskem also has planned investments in Peru and Venezuela, and is evaluating opportunities with the Comperj and Suape complexes in Brazil.
Carlos Fadigas will remain CEO of Braskem America until his successor is announced.
ABOUT BRASKEM AMERICA
Braskem America is one of the leading producers of polypropylene in the U.S. Headquartered in Philadelphia, the company has three production facilities located in Texas, Pennsylvania and West Virginia, as well as its Technology and Innovation Center in Pittsburgh. Braskem America is a wholly owned subsidiary of Braskem S.A.
ABOUT BRASKEM S.A.
Braskem is the leading thermoplastic resins producer in the Americas. With 31 industrial plants in Brazil and the United States, the company produces more than 33 billion pounds of thermoplastic resins and other petrochemical products annually.