NOVA Chemicals Corporation, 1000 Seventh Avenue S.W., Calgary, Alberta, Canada T2P 5L5
www.novachemicals.com | 403.750.3600 tel | 403.269.7410 fax
Todd Karran Appointed President and CEO of NOVA Chemicals
Calgary, Alberta (April 16, 2015) - NOVA Chemicals Corporation (NOVA Chemicals) today announced that Todd Karran has been appointed President and Chief Executive Officer. Mr. Karran has been the acting CEO, while maintaining his previous roles of Senior Vice President and Chief Financial Officer since May 2014. Mr. Karran has committed to continue serving as NOVA Chemicals' Chief Financial Officer while the Board of Directors conducts a search for a new CFO among internal and external candidates.
"It became clear to the Board of Directors that Todd is the right person to assume the role of Chief Executive Officer and lead NOVA Chemicals to further success in the years ahead," stated His Excellency Khadem Abdulla Al Qubaisi, NOVA Chemicals Chairman and IPIC Managing Director. "Todd has done an excellent job since he took over in the Acting CEO role and IPIC and the Board of Directors look forward to continued long-term growth and market leadership from NOVA Chemicals."
"I am honored by the opportunity to serve as the next CEO of NOVA Chemicals. Over the past several years, with support of IPIC and the Board of Directors, we have made tremendous progress on all aspects of our business," stated Mr. Karran. "We plan to continue the positive momentum through safe and reliable operations of our assets and leadership in each aspect of our business, while looking forward to continued growth."
To download a picture of Mr. Karran please visit our website at http://www.novachem.com/Lists/News%20and%20Events/DispForm.aspx?ID=97
About NOVA Chemicals Corporation
NOVA Chemicals develops and manufactures chemicals, plastic resins and end-products that make everyday life safer, healthier and easier. Our employees work to ensure health, safety, security and environmental stewardship through our commitment to sustainability and Responsible Care®. NOVA Chemicals, headquartered in Calgary, Alberta, Canada, is a wholly owned subsidiary of International Petroleum Investment Company (IPIC) of the Emirate of Abu Dhabi, United Arab Emirates.
Visit NOVA Chemicals on the Internet at www.novachemicals.com.
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Media inquiries, please contact:
Pace Markowitz
Director, Communications
E-mail: pace.markowitz@novachem.com
Investor Inquiries, please contact:
Tracey Simpson
Leader, External Financial Reporting
E-mail: tracey.simpson@novachem.com
NOVA Chemicals' logo is a registered trademark of NOVA Brands Ltd.; authorized use.
Responsible Care® is a registered trademark of the Chemistry Industry Association of Canada.
Forward Looking Statements: This news release contains forward-looking statements regarding the leadership change at NOVA Chemicals and IPIC's desire to grow NOVA Chemicals. By their nature, forward-looking statements involve assumptions, known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. For investors, detailed information about some of the known risks and uncertainties is included in the "Risk Factors" section of our annual report. Investors are specifically referred to those documents. NOVA Chemicals' forward-looking statements are expressly qualified in their entirety by this cautionary statement. In addition, the forward-looking statements are made only as of the date of this news release, and except as required by applicable law, NOVA Chemicals undertakes no obligation to publicly update the forward-looking statements to reflect new information, subsequent events or otherwise.