---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-21-148833"
form_type: "8-K"
ticker: "LYB"
cik: "0001489393"
company_name: "LyondellBasell Industries N.V."
filed_at: "2021-12-13T23:59:59+00:00"
generated_at: "2026-06-28T01:40:06.143330+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# LyondellBasell appoints Peter Vanacker as CEO effective no later than June 2022; Ken Lane interim CEO

## Summary
- Peter Vanacker, formerly Neste CEO, appointed CEO of LyondellBasell; effective no later than June 2022.
- Ken Lane (EVP Global Olefins & Polyolefins) named interim CEO from Jan 1, 2022; base salary raised to $1.2M, STI target 150%.
- Vanacker's base salary $1.4M; STI target 150% of base; LTI target $10M (50% PSUs, 25% RSUs, 25% options).
- One-time new hire awards: $1.9M cash (subject to repayment) and $2.3M RSU award vesting over two years.
- Executive Severance Plan amended to extend CEO eligibility; provides 1.5x salary+bonus on termination without cause.

## SEC filing metadata
- accession: 0001104659-21-148833
- form_type: 8-K
- ticker: LYB
- cik: 0001489393
- company_name: LyondellBasell Industries N.V.
- filed_at: 2021-12-13T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1489393/000110465921148833/0001104659-21-148833-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1489393/000110465921148833/tm2134937d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-21-148833
- JSON: https://secwatch.observer/filing/0001104659-21-148833.json
- Plain text: https://secwatch.observer/filing/0001104659-21-148833.txt

## Key facts
- Executive change
  Bob Patel retired as Chief Executive Officer at LyondellBasell Industries N.V..
  - Action: retired
  - Role: Chief Executive Officer
  source text: the vacancy created by Mr. Bob Patel’s retirement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1489393/000110465921148833/0001104659-21-148833-index.htm
- Executive change
  Peter E.V. Vanacker was appointed as Director at LyondellBasell Industries N.V..
  - Action: appointed
  - Role: Director
  source text: the Board has also appointed Mr. Vanacker to serve on the Board of Directors to fill the vacancy created by Mr. Bob Patel’s retirement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1489393/000110465921148833/0001104659-21-148833-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.