Olin taps Lane to succeed Sutton as CEO

US-based chlor-alkali producer Olin has named LyondellBasell executive vice president Kenneth Lane to succeed Scott Sutton as company chief executive effective next month.

Sutton will step aside on 18 March and will work with Lane for a transition period before leaving the company, Olin said on Monday. In previous discussions with investors, Sutton indicated he plans to depart Olin by the middle of the year.

Sutton also stepped down from Olin's board effective 16 February, with former Dow executive William Weideman appointed to succeed him as chair.

Lane has served as executive vice president of global olefins and polyolefins at LyondellBasell since 2019, including serving as interim chief executive early last year. Lane previously worked at BASF for 13 years

Some Olin customers have wondered whether new leadership at the company will change how the company approaches the market, but no indications of a change in strategy have yet emerged.

Olin has run plants in recent years with a focus on the weaker side of the chlor-alkali market, running operations lower and tightening supply to support price recovery for whichever product, caustic or chlorine, was performing poorly.

Olin has capacity idled at two plants, St. Gabriel, Louisiana and Freeport, Texas, to try and support falling chlorine prices. The two plants combine for about 1mn t/yr of chlorine capacity. Even with the idled capacity, supply has outpaced caustic and chlorine demand, leaving US producers with longer supply levels across the chlor-alkali chain.

By Aaron May