Olin Corporation (NYSE: OLN) has announced the appointment of Kenneth Lane as the new President and Chief Executive Officer and Director of the company, effective March 18, 2024. This decision comes as Scott Sutton steps down from his roles as President, Chief Executive Officer, and Director, also on the same day, to aid in a smooth transition of leadership responsibilities.

Additionally, Olin revealed that Mr. Sutton has resigned as the Executive Chairman of the Board of Directors, with William Weideman taking over the position, effective February 16, 2024.

Mr. Lane brings with him a wealth of experience, having previously served as the Executive Vice President of Global Olefins and Polyolefins at LyondellBasell, a major player in the plastics, chemicals, and refining industry. His impressive career also includes senior executive leadership roles at BASF and a variety of positions at BP Chemicals and Amoco Chemical Corporation. With extensive international exposure, working across the United States, Malaysia, the United Kingdom, China, and Belgium, Mr. Lane holds a Bachelor of Science in civil engineering from Clemson University and a Master of Science in management from the University of Alabama Huntsville.

William Weideman, Chairman of the Board of Directors, expressed the board’s enthusiasm about Mr. Lane’s appointment, highlighting his over 30 years of experience in leading both commodity and specialty chemicals businesses and his track record of delivering strong results and growth. The board looks forward to collaborating with Mr. Lane to drive the company’s strategy while maintaining a disciplined capital allocation approach focused on creating shareholder value.

Mr. Lane also shared his excitement and honor in taking on the new role at Olin Corporation.