Chevron Phillips Chemical announced the appointment of Wayne Borduin as Executive Vice President and Chief Financial Officer, effective September 1. Borduin will report to President and CEO Steve Prusak and oversee the company’s finance and procurement organizations, succeeding Darren Ercolani, who is retiring after more than 30 years 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 leadership experience across corporate treasury, investor relations, business-unit finance, and procurement, with roles spanning the United States, 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.
During his tenure at CPChem, Ercolani served as Senior Vice President of Business Transformation and held several other roles, including General Auditor, Asia-region Controller, and Chief Financial Officer of the company’s Q-Chem joint venture in Qatar. Chevron Phillips Chemical is one of the world’s top producers of olefins and polyolefins, employing more than 5,000 people across 31 manufacturing and research facilities in five countries, with more than $21 billion in assets. The company is owned equally by Chevron U.S.A., Inc. and Phillips 66 Company and is headquartered in The Woodlands, Texas.
KEY QUOTES:
“Wayne is a seasoned finance leader with global experience, deep capital markets expertise and a strong track record of driving performance. His strategic mindset, operational grounding and collaborative leadership style make him an outstanding addition to our executive team.”
“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. I want to personally thank him for his dedicated service and the meaningful contributions he made to our strategic growth and company culture.”
Steve Prusak, President and CEO, Chevron Phillips Chemical
