Olin Corporation, announced the Board of Directors has appointed Kenneth Lane as President and Chief Executive Officer and Director of Olin Corporation effective March 18, 2024. Scott Sutton will step down as President, Chief Executive Officer and Director effective the same day and will work with Mr. Lane to facilitate a smooth transition of leadership responsibilities.
Olin also announced Mr. Sutton stepped down as Executive Chairman of the Board of Directors, and William Weideman was appointed Chairman, effective February 16, 2024.
Mr. Lane comes to Olin from LyondellBasell, a NYSE traded company, one of the world’s largest plastics, chemicals, and refining companies, where he served as Executive Vice President of Global Olefins and Polyolefins. Prior to joining LyondellBasell in 2019, Mr. Lane was with BASF for 13 years where he held senior executive leadership positions across a diverse array of businesses including Polyurethanes, Monomers and Catalysts. Prior to joining BASF, he served in a variety of operations, strategy and commercial positions at BP Chemicals as well as various technical and operations roles at Amoco Chemical Corporation. Mr. Lane has extensive international experience having worked in the United States, Malaysia, the United Kingdom, China and Belgium.
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Mr. Lane holds a Bachelor of Science in civil engineering from Clemson University and a Master of Science in management from the University of Alabama Huntsville.
“Ken is a performance-driven leader with more than 30 years of experience leading a wide variety of both commodity and specialty chemicals businesses and has a proven track record of delivering both strong results and growth. The Board is delighted to have Ken join the Olin team and we look forward to working together to continue to drive the Company’s strategy while maintaining our disciplined capital allocation approach focused on creating shareholder value,” said William Weideman, Chairman of the Board of Directors.
“I am honored and excited to lead Olin Corporation and build on its strong foundation. Olin has tremendous potential for the future, and I look forward to leveraging the Company’s industry leading positions, strong manufacturing base, steady cash generative operating model and exceptional talent to drive growth and higher shareholder value,” said Mr. Lane.
SOURCE : PRNewswire