Petroplus Names Total Veteran As CEO To Push Expansion
May 18 2009 - 1:55PM
Dow Jones News
Switzerland-based refiner Petroplus Holdings AG (PPHN.VX) Monday
elected Jean-Paul Vettier as its new chief executive, replacing Bob
Lavinia, who will retire later this year but remain on the
company's board.
Vettier, who will take up his new post Sept. 1, previously
worked as head of refining and marketing for Total SA (TOT) and has
been involved in several of the French energy firm's acquisitions
in the past.
"With more than 35 years of experience in the petroleum and
chemical industries, Jean-Paul brings an extraordinary level of
expertise to the company," said Petroplus Chairman Thomas O'Malley.
"He has the experience, qualities and personal leadership to drive
Petroplus forward and take advantage of growth opportunities in the
future," O'Malley added.
Petroplus is Europe's largest independent oil refiner, owning
plants in Germany, France, Belgium, Switzerland and the U.K. Over
the past several years, Petroplus has acquired around half a dozen
companies and recently said that the current market environment
offers buying opportunities.
Vettier worked for Total from 1993 through 2006. He was also
president of Europia, the refining and marketing industry's trade
group in Western Europe. Most recently, Vettier has been active in
advising investment and management firms on energy matters.
"The team at Petroplus has built a strong company in a few short
years," Vettier said. "I intend to continue that growth while
focusing on safety and reliability, without forgetting
profitability."
Company Web site: www.petroplusholdings.com
-By Goran Mijuk, Dow Jones Newswires, +41 43 443 80 47; goran.mijuk@dowjones.com