- Combination of Borouge Plc and Borealis followed by acquisition of NOVA Chemicals to form Borouge Group International AG, transactions due to close by end‑March 2026.
- Roger Kearns named CEO, Dr. Stefan Doboczky CCO and Dr. Hasan Karam COO; Daniel Turnheim will serve as interim CFO until a permanent CFO is appointed by May 2026.
- New group will be a global polyolefins platform integrating production across three continents and Borouge Plc will retain its ADX listing until a tender offer converts shares.
Transaction timeline
OMV and ADNOC are forming Borouge Group International AG by combining their holdings in Borouge Plc and Borealis, followed by acquiring NOVA Chemicals; transactions are on track to close before end‑March 2026.
Executive leadership
Roger Kearns will be CEO, Dr. Stefan Doboczky CCO and Dr. Hasan Karam COO; the team will assume their roles upon completion of the transactions.
Leadership backgrounds
Kearns is President & CEO of NOVA Chemicals with 40+ years in the chemicals sector, experience delivering major projects and expanding recycled polyethylene activities; Doboczky is CEO of Borealis with a PhD in Chemistry and an MBA; Karam has been COO of Borouge Plc since May 2023 with three decades of refinery and petrochemical operations experience and advanced degrees including a PhD and an Executive MBA.
Finance and transition
Daniel Turnheim, CFO of Borealis, will serve as interim CFO until a permanent CFO is appointed by May 2026; Borouge Plc will retain its ADX listing until a proposed tender offer converts its shares to Borouge Group International AG.
Governance
Dr. Sultan Ahmed Al Jaber has been named Chairman of the Supervisory Board and OMV‑ and ADNOC‑nominated supervisory board members were announced.
