Chevron Phillips Chemical names new president and chief executive officer

Published 2:41 pm Monday, February 12, 2024

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Chevron Phillips Chemical announced today that Steve Prusak, currently senior vice president, corporate planning and technology, will become president and chief executive officer, effective March 1.

Current president and chief executive officer Bruce Chinn is retiring after more than 40 years in the energy industry.

Chevron Phillips Chemical is the 51 percent owner of Golden Triangle Polymers, a facility under construction in Orange County.

“The past three years at the helm of CPChem have been among the most rewarding of my career,” Chinn said.

“It’s been a privilege to lead this great company through a time of transition as we advance a portfolio of strategic projects to grow our global asset base, progress a circular economy for plastics and work to lower the carbon intensity of our operations. I am most proud of our engaged global workforce for continuing to operate our plants safely and reliably and serve our customers with excellence.”

Chevron Phillips Chemical President and CEO Bruce Chinn speaks to a packed house in April 2023 at The Brown Estate in Orange. (Stephen Hemelt/The Leader)

Prusak is a 30-plus year veteran of the chemical industry and brings deep knowledge of CPChem’s core business and robust organic growth experience to the role.

In his current position, he oversees the company’s strategy function and research and technology department. He also holds responsibility for the projects organization currently constructing two world-scale facilities on the U.S. Gulf Coast and in Qatar.

Previously, he led CPChem’s business transformation efforts focused on unlocking value through innovation and continuous improvement of business processes and operations.

Since joining CPChem soon after its inception in 2000, he has held various roles in commercial, business development, finance and projects. Prusak holds a B.S. in chemical engineering from the University of Delaware and an MBA from the University of Houston.

“I’d like to congratulate Bruce on a tremendous career. Under his leadership, CPChem has delivered on its strategic objectives to grow the business and establish targets to reduce the carbon intensity of its operations,” said Mitra Kashanchi, president of Chevron Chemicals and CPChem board member.

“With projects like Ras Laffan Petrochemicals in Qatar and Golden Triangle Polymers in Texas underway, Steve’s extensive background in project execution and his commitment to operational excellence position him well to continue CPChem’s growth and to deliver strategic value.”

The company announced several additional management changes, also effective March 1:

Mitch Eichelberger, currently executive vice president, polymers and specialties, is retiring from the company after more than 40 years of distinguished service to CPChem and Chevron.

Justine Smith, currently senior vice president, petrochemicals, is becoming executive vice president, commercial, assuming additional responsibility for the polymers and specialties businesses. Smith joined CPChem in 2020 and previously held commercial, strategy and operations leadership positions in the U.S. and Asia at BASF Corporation.

Bryan Canfield, currently senior vice president, manufacturing, is taking on additional responsibility for the projects organization and become executive vice president, manufacturing and projects. Canfield joined CPChem in 2019 and previously held leadership roles in engineering and operations at TotalEnergies.

Kevin Ristroph, currently vice president, specialties, is becoming senior vice president, corporate planning and technology, overseeing the company’s strategy and research and technology functions. Ristroph joined CPChem at the inception of the joint venture and has held roles of increasing responsibility in operations, business development and commercial in the U.S., Asia and Middle East.

Tim Roberts, executive vice president, midstream and chemicals, at Phillips 66 and a member of the CPChem board of directors said: “These management changes represent the strong leadership talent at CPChem, and we look forward to seeing the company continue to thrive under their direction.”

Prusak concluded: “My colleagues and I are honored by the trust our board of directors has placed in us. It’s a dynamic time for our industry, and we are excited by the challenges and opportunities ahead for this company. I also want to congratulate Bruce and Mitch on their well-earned retirements and for their innumerable contributions to CPChem’s success.”