February 9, 2018 / 6:33 AM / 7 months ago

Biofuel firm Neste picks new CEO from CABB

HELSINKI, Feb 9 (Reuters) - Finnish biofuel producer and oil refiner Neste has picked Peter Vanacker from German chemicals firm CABB to replace Matti Lievonen, who is retiring, as the company’s next chief executive officer, the firm said on Friday.

Vanacker, who once worked for drug-maker Bayer, will join the company in September and take over the CEO role in November.

“Vanacker’s broad international experience from the chemicals and polymers industry, proven track record in several strategic transformations and large-scale investment projects, and multicultural leadership skills will be very welcome for Neste,” Neste chairman Jorma Eloranta said in a statement.

Lievonen led the company for 10 years, helping it to transform from an oil refiner into a profitable biofuel producer.

Earlier this week Neste posted better-than-expected 2017 earnings. (Reporting by Jussi Rosendahl, editing by Gwladys Fouche)

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