Jun 25, 2021

Bob Dudley and Len Blavatnik reunite at LyondellBasell

What forces could have brought Bob Dudley back into the orbit of Britain's richest person, Len Blavatnik? The former BP boss last month joined the board of LyondellBasell, the Dutch petrochemicals business built and then rebuilt by Blavatnik. One complex strategic issue navigated by Dudley was the struggle for control of TNK-BP between BP and Russian investors including Blavatnik. Dudley's new role means he is accountable to Blavatnik's holding company, Access Industries, which holds a 21.4 per cent stake in LyondellBasell through affiliates and can nominate up to three board members. Serving alongside Dudley is Access CEO Lincoln Benet, who first teamed up with Blavatnik in 2006, and Stephen Cooper, boss of Blavatnik-owned Warner Music Group.

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