CPChem names new chief financial officer

THE WOODLANDS, Texas--(BUSINESS WIRE)--Chevron Phillips Chemical today announced the appointment of Wayne Borduin as executive vice president and chief financial officer, effective Sept. 1. He will report to Steve Prusak, president and CEO, and oversee the company’s finance and procurement organizations. Borduin will succeed Darren Ercolani, who is retiring from the company after more than 30 years of service with CPChem and Phillips Petroleum (now Phillips 66).

Borduin joins CPChem from Chevron Corporation, where he most recently served as director and chief investment officer. He brings 25 years of progressive leadership across corporate treasury, investor relations, business-unit finance and procurement, with global experience spanning senior roles in the U.S., Asia and Latin America.

He holds an MBA in finance and strategy from Northwestern University, a master's degree in civil engineering from Stanford University and a bachelor's degree in civil engineering from Johns Hopkins University.

"Wayne is a seasoned finance leader with global experience, deep capital markets expertise and a strong track record of driving performance," Prusak said. "His strategic mindset, operational grounding and collaborative leadership style make him an outstanding addition to our executive team."

During his tenure with CPChem, Ercolani previously served as senior vice president, business transformation, and held several commercial, corporate strategy, finance management and treasury roles, including general auditor, Asia-region controller and chief financial officer of the company’s Q-Chem joint venture in Qatar.

“Darren’s steady leadership of our finance organization and business transformation programs during a dynamic time in our industry have helped position CPChem for continued success," Prusak said. “I want to personally thank him for his dedicated service and the meaningful contributions he made to our strategic growth and company culture."

About Chevron Phillips Chemical

“Chevron Phillips Chemical” includes Chevron Phillips Chemical Company LLC and its wholly owned subsidiaries. Chevron Phillips Chemical is one of the world’s top producers of olefins and polyolefins and a leading supplier of aromatics, alpha olefins, styrenics, specialty chemicals, polyethylene piping and polymer resins. With more than 5,000 employees, Chevron Phillips Chemical and its affiliates own over $21 billion in assets, including 31 manufacturing and research facilities in five countries. Chevron Phillips Chemical is owned equally by Chevron U.S.A., Inc. and Phillips 66 Company, and is headquartered in The Woodlands, Texas. For more information about Chevron Phillips Chemical, visit www.cpchem.com and follow us on social media: @chevronphillips.

“Chevron Phillips Chemical” or “CPChem” may refer to one or more Chevron Phillips Chemical’s subsidiaries or affiliates or to all of them taken as a whole. All of these terms are used for convenience only and are not intended as a precise description of any of the separate companies, each of which manages its own affairs.