Neste appoints Peter Vanacker as new CEO

February 11, 2018 |

In Finland, biofuel producer and oil refiner Neste Corporation appointed Peter Vanacker as their new CEO to replace Matti Lievonen, who is retiring. Vanacker is currently the CEO and Managing Director of Germany-based specialty chemicals firm CABB Group and formerly worked at Bayer where he was responsible for the global polyurethanes business and many significant investment projects. Lievonen, who has served as Neste’s President and CEO since 2008, will act as the President and CEO until 31 October 2018 and retire at the end of the 2018 after reaching his retirement age.

Neste also told Reuters that it “expects the reinstatement of the renewable fuel tax credit in the United States to increase its first quarter profit.” Neste did not disclose a number for the profit boost, but said it would be “somewhat lower than in the full year 2016”.

Category: Fuels

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