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NOVA Chemicals Announces New Board of Directors

November 12, 2009
NOVA Chemicals has announced the membership of its new Board of Directors, including the appointment of Dr. Gerhard Roiss as chairman of the board and Mohamed Al Mehairi as vice chairman. International Petroleum Investment Corp. (IPIC) and OMV Aktiengesellschaft (OMV) recently received clearance from the European Commission with respect to their plans for potential joint control of NOVA Chemicals. Accordingly, effective November 10, 2009, NOVA Chemicals' Board was expanded to consist of seven directors.

The members of the new NOVA Chemicals Board are: Gerhard Roiss, chairman – deputy CEO of OMV and chairman of Borealis AG (Borealis) Supervisory Board; Mohamed Al Mehairi, vice chairman – director, investments of IPIC, member of Borealis Supervisory Board; David C. Davies – chief financial officer (CFO) of OMV, member of Borealis Supervisory Board; Georg F. Thoma – Shearman Sterling LLP; Philip J. Brown – Torys LLP; Mark Garrett – chief executive officer (CEO) of Borealis; Randy G. Woelfel – CEO designate of NOVA Chemicals.

In addition, NOVA Chemicals confirmed that November 16, 2009 is the effective date for the previously announced appointments of Randy Woelfel as CEO and Todd Karran as CFO and treasurer.

NOVA Chemicals develops and manufactures chemicals, plastic resins, and end-products. It is a wholly owned subsidiary of The International Petroleum Investment Co. (IPIC) of the Emirate of Abu Dhabi. For more information, visit www.novachemicals.com.