Calgary, Alberta, Canada , June 18, 2020 (GLOBE NEWSWIRE) -- NOVA Chemicals Corporation ("NOVA Chemicals") today announced that Todd Karran, President, CEO and Board Member, has elected to retire, effective August 1, 2020.
Musabbeh Al Kaabi, Chairman of the Board of Directors, said, "On behalf of the Board and shareholder, I would like to thank Todd for his long and devoted service to the company. There have been a number of important milestones achieved under his leadership and we truly appreciate his commitment to the NOVA family and, not least, ensuring an unwavering focus on safety. We wish him well as he retires from the company."
A career veteran of NOVA Chemicals, Karran has served as President and CEO since 2015. He has led the company through significant growth and expansion projects including the completion and start-up of a new polyethylene reactor in Alberta, Canada, the decision to expand NOVA Chemicals' geographical footprint into the US Gulf Coast and building a second Advanced SCLAIRTECHTM technology facility in Ontario, Canada.
"It's been my pleasure and an honor to work alongside such a talented and passionate team for 35 years. I'm incredibly proud of the work we've done together and know that there is a bright future ahead for my friends and colleagues that are working to shape a better world," stated Karran.
Mr. Al Kaabi added, "After a thorough process to identify a strong and capable successor, the Board of Directors are finalizing arrangements with a talented and experienced leader and expect to be able to make an announcement shortly."
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About Todd Karran
Todd Karran has been the President and Chief Executive Officer of NOVA Chemicals since 2015. Karran joined NOVA Chemicals in 1985 and has served the company in several roles, such as Chief Financial Officer, Vice President, Corporate Development & Treasurer; Chief Information Officer; Vice President, Applications; and Vice President and Controller, Olefins/Polyolefins.
His 35 years of experience in pipeline, chemical & plastics manufacturing, and international business has helped him support profitable growth for the company.
Karran is a graduate of the Accelerated Accounting program at the Southern Alberta Institute of Technology, and holds a CPA, CMA professional accounting designation in Alberta. He also has an MBA from the Katz School of Business from the University of Pittsburgh and holds a C.Dir chartered director designation from McMaster University and the Conference Board of Canada. Karran has served as a Director of AdvanSix Inc. (NYSE: ASIX, Parsippany, NJ) since 2016.
?Todd Karran - Download headshot (https://www.novachem.com/wp-content/uploads/ToddKarran.tif)
About NOVA Chemicals Corporation
NOVA Chemicals develops and manufactures chemicals and plastic resins that make everyday life healthier, easier and safer. 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 wholly-owned ultimately by Mubadala Investment Company of the Emirate of Abu Dhabi, United Arab Emirates.
Visit NOVA Chemicals on the Internet at www.novachem.com (http://www.novachem.com/).
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Media inquiries
Jennifer Nanz
Director, Communications
E-mail: jennifer.nanz@novachem.com (mailto:jennifer.nanz@novachem.com)
Investor Relations
Patty Masry, Leader, Financial Reporting & Investor Relations
E-mail: Patty.Masry@novachem.com (mailto:Patty.Masry@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.
Advanced SCLAIRTECH is a trademark of NOVA Chemicals.
Forward Looking Statements: This news release contains forward-looking statements regarding finalizing arrangements for Mr. Karran's successor and the Board of Directors' expectation that an announcement will be made shortly. By their nature, forward-looking statements require NOVA Chemicals to make assumptions and are subject to inherent risks and uncertainties. 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 update the forward-looking statements to reflect new information, subsequent events or otherwise.
