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May 2, 2016
Fernando Musa nominated to serve as Braskem's CEO
Braskem, the leading thermoplastic resin producer in the Americas, announces, as part of its business succession plan, the nomination of Fernando Musa to serve as its new chief executive officer replacing Carlos Fadigas. The transition is occurring after the conclusion of an important step in Braskem's international expansion, namely the commissioning of the petrochemical complex in Mexico, in which some US$5 billion was invested.
Carlos Fadigas will continue to work in the Odebrecht Group, focusing in particular on supporting Braskem's new cycle of international expansion. During Fadigas' leadership over the last five years, Braskem expanded its industrial operations into Europe, became the leading Polypropylene producer in the U.S. and completed, in Mexico, its largest investment ever. In 2015, Braskem consolidated its position as the world's sixth-largest thermoplastic resin producer and set a new EBITDA record of R$9.4 billion.
Fernando Musa holds a B.S. in Mechanical Engineering from the Technological Institute of Aeronautics (ITA) and an MBA from Insead in France. He has served at various companies, such as McKinsey, Editora Abril and Monitor Group.
He joined Braskem in 2010 as Vice-president of Strategic Planning. Since March 2012, he has served as CEO of Braskem America, the business unit responsible for Braskem's operations in the United States and Europe. Under his leadership, Braskem consolidated its international operations in the US and Europe and launched important strategic projects to strengthen the company's presence in the United States. Musa's international experience over the past years played a decisive role in his selection as Braskem's new CEO for its next growth cycle.
"My priorities will be to build on Braskem's successful growth and international expansion strategy, strengthen its competiveness across all operations and identify new investment opportunities in Brazil and abroad," said Fernando Musa.
Fernando Musa's nomination as CEO will be submitted to Braskem's Board of Directors for approval.
About Braskem
A subsidiary of the Odebrecht Group, Braskem is the largest thermoplastic resins producer in the Americas, with annual production volume of over 16 million tons, which includes other chemical products and basic petrochemicals, with annual revenue of R$54 billion. Driven by its purpose of improving people's lives and creating sustainable solutions in chemicals and plastics, Braskem is present in more than 70 countries, has around 8,000 Team Members and operates 40 industrial units in Brazil, the United States, Germany and Mexico, the latter in partnership with Mexican company Idesa.
For further information, please contact:
Braskem Press Contact
Jessica Frank
e-mail:
jessica.frank@braskem.com
Phone: +49 151 55201429
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