Only executive officers may serve on the Management Board. The Management Board is tasked with the management of LyondellBasell. Collectively, the Management Board is responsible for developing, driving, executing and achieving the approved Company strategy and objectives. The Management Board is also responsible for the associated risk profile, the establishment and maintenance of sound business and financial controls, the development of results and dealing with corporate responsibility issues, while simultaneously respecting established policies.
Under Dutch Law, the Management Board is accountable for the actions and decisions of the senior leaders of LyondellBasell, has ultimate responsibility for LyondellBasell’s external reporting and is answerable to shareholders at the Annual General Meeting. Pursuant to the two-tier corporate structure, the Management Board is accountable for its performance to a separate Supervisory Board comprised of outside, non-employee directors.
Members of the Management Board are appointed by shareholders upon nomination by the Supervisory Board.