- ADNOC and OMV will combine Borouge Plc and Borealis and acquire NOVA Chemicals to form Borouge Group International AG, a global polyolefins platform.
- Transactions are on track to close before end-March 2026; Borouge Plc will remain listed on ADX until a tender offer converts its shares.
- Roger Kearns named CEO, Dr. Stefan Doboczky CCO and Dr. Hasan Karam COO, with Daniel Turnheim as interim CFO until a permanent CFO is appointed by May 2026.
Transaction and timeline
ADNOC and OMV will form Borouge Group International AG by combining their holdings in Borouge Plc and Borealis and acquiring NOVA Chemicals; the transactions are on track to close before end‑March 2026.
Executive appointments
Roger Kearns will serve as CEO, Dr. Stefan Doboczky as Chief Commercial Officer and Dr. Hasan Karam as Chief Operating Officer; Daniel Turnheim will act as interim CFO until a permanent CFO is appointed by May 2026.
Supervisory Board
Dr. Sultan Ahmed Al Jaber has been named Chairman of the Supervisory Board. ADNOC‑nominated members are Mussabeh Al Kaabi, Fatema Al Nuaimi, Dr. Rainer Seele and Klaus Froehlich; OMV‑nominated members are Dr. Alfred Stern, Reinhard Florey, Martijn van Koten, Dr. Edith Hlawati and Georg Knill.
Transition and listing
Borouge Plc will retain its listing on the Abu Dhabi Securities Exchange until a proposed tender offer converts its shares to Borouge Group International AG; Hazeem Sultan Al Suwaidi will remain CEO of Borouge Plc, Jan‑Martin Nufer will continue as CFO during the transition, Roland Jannsen will remain Chief Marketing Officer and Dr. Hasan Karam will continue as COO of Borouge Plc.
