Chevron Phillips Chemical Announces President and CEO Leadership Succession

THE WOODLANDS, Texas–(BUSINESS WIRE)–Chevron Phillips Chemical Company LLC (Chevron Phillips Chemical)
announced today that Peter Cella, president and chief executive officer
(CEO), intends to retire from the company, effective August 1, 2017.
Additionally, the company announced that Mark Lashier, currently
executive vice president, Commercial, will succeed Mr. Cella as
president and CEO upon Mr. Cella’s retirement.

“Pete Cella’s strategic vision, his commitment to leadership
development, and his relentless pursuit of operating the company’s
global facilities safely and profitably will remain hallmarks of his
distinguished career at Chevron Phillips Chemical,” said Timothy G.
Taylor, president, Phillips 66 and member of the Chevron Phillips
Chemical Board of Directors. “In addition, Pete was a guiding influence
in advancing the company’s transformational $6 billion U.S. Gulf Coast
Petrochemicals Project (USGC PP). On behalf of the Board of Directors
and the company, we thank Pete for his contributions to reinforce
Chevron Phillips Chemical’s footing as a world-leader in the industry.”

“It has been my honor and privilege to serve as the president and CEO of
Chevron Phillips Chemical for more than six years,” said Cella. “I’m
incredibly proud of what we have accomplished together, particularly the
success in building our world-scale petrochemicals project, elevating
our already industry-leading operational excellence performance, and
advancing our organizational capabilities agenda. I look forward to the
many achievements this company and our employees will make under Mark
Lashier’s leadership.”

Mr. Lashier has nearly 30 years of experience in the chemicals industry,
beginning his career as an engineer with the Phillips Petroleum Company,
now Phillips 66 (NYSE: PSX), at its Bartlesville, Oklahoma, facility. By
1997 he had assumed management responsibility for Phillips Petroleum’s
Olefins business. In 2000, he joined Chevron Phillips Chemical as
Chevron (NYSE: CVX) and Phillips Petroleum combined their chemical
businesses to create Chevron Phillips Chemical. Since that time, he has
held numerous positions of increasing responsibility, including the Asia
Region manager, senior vice president, Specialties, Aromatics, &
Styrenics, and executive vice president, Olefins and Polyolefins. Mr.
Lashier holds a bachelor’s degree and doctorate in chemical engineering
from Iowa State University.

“Mark brings a wealth of institutional knowledge and the strategic
vision that will only further elevate Chevron Phillips Chemical’s
trajectory in the years ahead,” said Michael E. (“Mike”) Coyle,
president, Manufacturing, Chevron and member of the Chevron Phillips
Chemical Board of Directors. “We are extremely fortunate to have such a
talented, effective, and passionate leader at the helm of the
organization and I look forward to all that Mark and his team will
accomplish together.”

Additional Executive Management moves

The company also announced several additional management changes,
effective July 1, 2017.

Scott Sharp, currently senior vice president, Manufacturing, will become
executive vice president, Manufacturing, reporting directly to the CEO.
He will assume additional responsibilities for the commissioning and
start-up of the USGC PP, while maintaining his leadership role for the
company’s worldwide manufacturing operations. In addition, Mr. Sharp
will provide executive oversight of the company’s global procurement
operations, joint venture operations in Qatar, and manufacturing
operations in Europe, Saudi Arabia, and Asia. Mr. Sharp began his career
with Chevron in 1985 and has held numerous management positions across
manufacturing and various business lines, including vice president,
Qatar and vice president, Environmental, Health, Safety & Security. He
holds a bachelor’s degree in chemical engineering from the University of
Missouri – Columbia.

Ron Corn, currently senior vice president, Projects & Supply Chain, will
become senior vice president, Petrochemicals, with responsibility for
the Olefins, Natural Gas Liquids (NGL) and Aromatics product lines. He
will report directly to the CEO. In addition, he will provide leadership
for the company’s joint ventures in Saudi Arabia and will continue to
oversee final construction activities for the USGC PP. Mr. Corn has more
than 37 years of industry experience and has held a series of leadership
positions including senior vice president, Specialties, Aromatics &
Styrenics, vice president, Corporate Planning & Development, and vice
president, Olefins and NGL. He holds a bachelor’s degree in chemical
engineering from the University of Illinois.

Dave Morgan, currently senior vice president, Polymers, will become
senior vice president, Polymers and Specialties, and report directly to
the CEO. In this newly created role, he will be accountable for the
global sales operations of these business lines, assume administrative
responsibilities for the company’s Europe, Middle East, Africa (EMEA)
and Asia regions, and lead the company’s global Supply Chain
organization as well as its Performance Pipe Division. He has more than
38 years of industry experience after beginning his career at Phillips
Petroleum. Mr. Morgan has held numerous leadership roles including
executive president, Saudi Polymers Company and general manager,
Performance Pipe. He holds a bachelor’s degree in chemical engineering
from Texas A&M University and a master’s in business administration from
the University of Houston.

Dave Smith, currently senior vice president, Petrochemicals, will assume
a new role as senior vice president, Corporate Planning & Technology,
reporting directly to the CEO. In this newly created role, he will have
overriding responsibility for the company’s Research and Technology,
Corporate Planning & Development, and Information Technology functions.
Mr. Smith has more than 37 years of industry experience, beginning with
Chevron and has held positions of increasing responsibility in
engineering, business development and management including vice
president, Polyethylene and general manager, NAO and PAO. He holds a
bachelor’s degree in chemical engineering from the University of
Illinois and a master’s degree in chemical engineering from the
University of Michigan.

Jim Becker, currently vice president Specialties, will become vice
president, Polymers and report to Dave Morgan. Mr. Becker has 37 years
of industry experience and has previously served as executive president,
Saudi Polymers Company, Asia regional manager, and general manager of
the company’s Port Arthur production plant. He holds a bachelor’s degree
in chemical engineering from the University of Illinois and a master’s
in business administration from Pepperdine College.

Jim Telljohann, currently vice president, Corporate Planning &
Development, will assume a commercial role as vice president,
Specialties, reporting to Dave Morgan. Mr. Telljohann has 35 years of
experience with Chevron and Chevron Phillips Chemical, having previously
served as the Styrenics general manager, Aromatics general manager and
global business development manager. He holds a bachelor’s degree in
chemical engineering from The Ohio State University, and a master’s in
business administration from Case Western Reserve University.

“I am excited and energized by the opportunity to lead an organization
of such highly talented individuals and a company poised for growth and
expansion globally,” said Mark Lashier. “I want to thank Pete as well
for his tremendous leadership. The organizational changes we are making
today will further strengthen our company’s capabilities to deliver
profitable growth and meet the demands of our continuously expanding
customer base.”

About Chevron Phillips Chemical Company LLC

Chevron Phillips Chemical LLC is one of the world’s top producers of
olefins and polyolefins and a leading supplier of aromatics, alpha
olefins, styrenics, specialty chemicals, plastic piping and polymer
resins. With approximately 5,000 employees, the LLC and its affiliates
own $15 billion in assets, including 33 manufacturing and research
facilities in seven countries. Chevron Phillips Chemical Company LLC is
equally owned by Chevron U.S.A. Inc., an indirect wholly-owned
subsidiary of Chevron Corporation, and by wholly-owned subsidiaries of
Phillips 66, and is headquartered in The Woodlands, Texas. For more
information about Chevron Phillips Chemical, visit www.cpchem.com.
Also, follow us on Twitter: @chevronphillips.

Contacts

Chevron Phillips Chemical Company LP
Bryce Hallowell, 832-813-4220
[email protected]