ADNOC and OMV Name Leaders for Borouge Group International

Abu Dhabi’s state-owned energy giant ADNOC and Austria’s OMV AG have announced the leadership appointments for Borouge Group International (BGI), a new global polyolefins entity formed through a major merger. Sultan Al Jaber has been named chairman of the supervisory board, while Roger Kearns will serve as the chief executive officer. The formation of BGI involves combining the shareholdings of both companies in Borouge and Borealis, alongside the acquisition of NOVA Chemicals, with the transaction expected to close by the end of March 2026.

Sultan Al Jaber currently serves as the managing director and group CEO of ADNOC, as well as the executive chairman of XRG, the company’s international investment arm. He is also the minister of industry and advanced technology for the United Arab Emirates and previously led the COP28 climate summit. Roger Kearns, who brings over 40 years of industry experience, joins BGI from his current role as president and CEO of NOVA Chemicals.

The executive leadership team for the new group is drawn from its constituent companies. Stefan Doboczky, the CEO of Borealis, will take on the role of chief commercial officer. Hasan Karam, who has been the chief operating officer of Borouge Plc since May 2023, will maintain that position within the new group. Daniel Turnheim, the CFO of Borealis, has been appointed as interim chief financial officer until a permanent selection is made by May 2026.

BGI will be owned equally by OMV and XRG, with each holding a 50% stake. The new entity will control approximately 90% of Borouge, which is set to remain listed on the Abu Dhabi Securities Exchange until a proposed tender offer converts its shares into BGI stock. During this transition, Hazeem Sultan Al Suwaidi will continue to serve as the CEO of Borouge.