Westlake Chemical Partners has announced a significant change in its leadership, with Jean-Marc Gilson, a seasoned leader in the chemical industry, being appointed as the new President and CEO. This comes as Albert Chao transitions to the role of Executive Chairman of the Board and James Chao becomes the Senior Chairman of the Board.
Jean-Marc Gilson, 60, brings a wealth of experience to his new role, having most recently served as President and CEO of Mitsubishi Chemical Group Corporation, a company with more than $30 billion in revenue. Prior to that, he held leadership positions at Roquette and Nusil Technology, among others.
In connection with his appointment, Jean-Marc Gilson will also become the President and CEO of Westlake Corporation (NYSE: WLK), signaling a significant expansion of his responsibilities within the organization.
Westlake Chemical Partners, a limited partnership formed by Westlake Corporation, operates, acquires, and develops ethylene production facilities and other qualified assets. The partnership owns a 22.8% interest in Westlake Chemical Opco LP, which includes three ethylene production facilities and an ethylene pipeline.
This succession plan is the culmination of a thoughtful process to position Westlake Chemical Partners for the future, as the company aims to continue executing its successful strategy and family culture of long-term value creation.
The appointment of Jean-Marc Gilson and the transition of the Chao brothers to new roles mark the beginning of Westlake Chemical Partners' next chapter, as the company continues to pursue sustained financial performance and growth in the chemical industry. Today the company's shares have moved 2.0% to a price of $23.44. For more information, read the company's full 8-K submission here.
