LyondellBasell has announced that Michael McMurray, its Executive Vice President and Chief Financial Officer (CFO), will retire effective March 1, 2025. Succeeding McMurray will be Agustin Izquierdo, currently the company’s Senior Vice President of Olefins & Polyolefins Americas & Refining. Until assuming the CFO role, Izquierdo will continue his responsibilities in his current position.
Recognizing McMurray’s Contributions
Peter Vanacker, Chief Executive Officer of LyondellBasell, expressed gratitude for McMurray’s impactful tenure over the past five years. “Michael’s strategic leadership has been instrumental in shaping LyondellBasell’s strategy and driving financial performance,” said Vanacker. “He transformed our finance function by recruiting highly talented, business-focused individuals and enhancing shareholder returns while navigating a dynamic and challenging market environment. His partnership, engagement, and dedication have been invaluable to LYB. I extend my heartfelt thanks to Michael for his contributions and for supporting a smooth succession process.”
Under McMurray’s leadership, the company achieved significant milestones, including improving operational efficiencies and financial strategies. His focus on shareholder returns, coupled with a keen understanding of market dynamics, has left the company on a robust financial footing.
Introducing Agustin Izquierdo as CFO
Agustin Izquierdo, who joined LyondellBasell in 2022, brings a wealth of financial and business expertise to the CFO role. Vanacker emphasized Izquierdo’s qualifications, stating, “We are pleased that top talent from within our organization will take on this critical role. Agustin’s extensive business and financial experience, combined with his proven leadership, will be essential as we continue delivering value to our shareholders.”
Before joining LyondellBasell, Izquierdo held various leadership roles with increasing responsibility at BASF from 2009 to 2022. His roles included General Manager, Business Director, and Vice President of Planning, Finance, and Digital. Prior to his time at BASF, Izquierdo spent nearly a decade at Morgan Stanley in its Investment Banking Division, gaining significant experience in financial strategy and corporate management. In his current role at LyondellBasell, Izquierdo has already contributed significantly to strategic and financial operations, particularly within the Intermediates & Derivatives segment.
Izquierdo expressed enthusiasm for his new role, saying, “I’m excited to transition into the CFO position and work alongside our talented team to drive performance. Since joining LyondellBasell, I’ve witnessed the company’s dedication to advancing its strategy, and I’m eager to build on Michael’s achievements and our strong financial foundation to execute our strategic initiatives.”
A Farewell from McMurray
Reflecting on his tenure, McMurray shared, “It has been a privilege to serve as the CFO of LyondellBasell. I’m deeply grateful to my colleagues and the Board for their support in navigating complex challenges and opportunities while strengthening the company’s financial position. I am confident that LYB is well-positioned for continued success under Agustin’s capable leadership.”
About LyondellBasell
LyondellBasell (NYSE: LYB) is a global leader in the chemical industry, committed to creating solutions for sustainable living through innovation and advanced technology. The company focuses on enabling a circular and low-carbon economy by developing and manufacturing high-quality polymers and polyolefin technologies. These innovative materials serve various applications, including sustainable transportation, food safety, clean water, and quality healthcare.
As one of the world’s largest producers of polymers, LyondellBasell continues to invest in cutting-edge technologies and sustainable practices to deliver value to its customers, investors, and society at large. For more information, visit www.LyondellBasell.com or follow @LyondellBasell on LinkedIn.
