He will manage Oxea’s business operations beginning Jan. 1, 2019 as acting CEO.
Dr. Borgmeier has been with the company for more than 13 years, most recently as EVP global operations.
“I am delighted about the confidence placed in me by the Board. It will be important to build on the success achieved by Dr. Salim Al Huthaili to date,” said Dr. Borgmeier. “Our technology base for selected products offers Oxea exciting opportunities to drive mid- and long-term growth. We can only achieve this growth in close cooperation with our employees, customers, and colleagues from the leadership team.”
Oxea's current CEO, Dr. Salim Al Huthaili, will join Duqm Refinery and Petrochemical Industries Company as its new CEO on Jan. 1, 2019. He will play a leading role in the integration of Oman Oil Refineries and Petroleum Industries Company and Oman Oil Company. Furthermore, Dr. Al Huthaili will remain with Oxea and move up to the Board.
“We would like to thank Dr. Salim Al Huthaili for his outstanding achievements at Oxea and his very open and inspiring manner,” said Dr. Borgmeier. “As CEO, he has played a key role in shaping the company in recent years and has made a decisive contribution to the strengthening of Oxea and its further development. Under his initiative, Oxea has achieved excellent economic results over the past two years. He was instrumental in refinancing the company. Dr. Salim Al Huthaili has initiated forward-looking strategic projects at Oxea, including the construction of the Propanol II plant in Bay City, Texas, our largest investment project to date.”
Dr. Oliver Borgmeier/OXEA