Union Pacific elects Patel to board of directors

Union Pacific Corp. announced yesterday that Bhavesh "Bob" Patel has been elected to the company's board. Patel is chief executive officer and chairman of the management board of LyondellBasell Industries, one of the world's largest plastics, chemicals and refining companies. "Bob's dedication to safety as well as his proven track record of driving increased efficiency and operational excellence will make him a valuable contributor to the company in many aspects," said UP Chairman, President and CEO Lance Fritz in a press release. "With nearly 40 percent of our freight volume originating or terminating outside the U.S., Bob's significant international business experience will benefit Union Pacific. We are excited to welcome him to the board." Patel joined LyondellBasell in March 2010. Prior to being named CEO, he held senior leadership roles including senior vice president, Olefins and Polyolefins-Americas; SVP, Olefins and Polyolefins-Europe, Asia and international, based in the Netherlands; and EVP, Olefins and Polyolefins- Europe, Asia and international. Patel was named CEO and chairman of the company's management board in January 2015. Prior to joining LyondellBasell, Patel held leadership positions at Chevron Phillips Chemical Co. He worked for Chevron Corp. and its affiliates for more than 20 years.