NOVA Chemicals CFO to Retire

NOVA Chemicals has announced that Larry A. MacDonald, its senior vice president and chief financial officer, has elected to retire effective December 31, 2009, after more than 30 years with the company and its predecessor companies.

During his tenure, MacDonald held various leadership positions and was a member of the NOVA Chemicals Executive Leadership Team since the company’s inception in 1998.

“On behalf of NOVA Chemicals, I want to thank Larry for his dedication and many contributions to our company,” said chief executive officer Chris Pappas. “We are fortunate to have had his financial expertise during these unique and dynamic economic times.”

Through year-end, MacDonald will continue to focus on implementation of the company’s refinancing plans and will be an integral force in the successful transition of business activities under their new IPIC ownership.

NOVA Chemicals develops and manufactures chemicals, plastic resins, and end-products that make everyday life safer, healthier, and easier. The company’s employees work to ensure health, safety, security, and environmental stewardship through its commitment to sustainability and Responsible Care. NOVA Chemicals is a wholly owned subsidiary of The International Petroleum Investment Co. (IPIC) of the Emirate of Abu Dhabi.

For more information, visit www.novachemicals.com.