Chevron Phillips Chemical (CPChem) has named Wayne Borduin as its new Executive Vice President and Chief Financial Officer, effective September 1.
This marks a significant leadership transition as long-serving finance chief Darren Ercolani prepares to retire after more than 30 years with CPChem and Phillips Petroleum (now Phillips 66).
Borduin will report directly to President and CEO Steve Prusak and will lead the company's finance and procurement organizations. He joins CPChem from Chevron Corporation, where he most recently served as Director and Chief Investment Officer.
Bringing 25 years of leadership experience, Borduin has held senior roles across corporate treasury, investor relations, business-unit finance and procurement, with international experience in 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.
"Wayne is a seasoned finance leader with global experience, deep capital markets expertise and a strong track record of driving performance," Prusak said. "His strategic mindset, operational grounding and collaborative leadership style make him an outstanding addition to our executive team."
Borduin succeeds Darren Ercolani, who is retiring after a distinguished career spanning more than three decades. During his tenure, Ercolani served as Senior Vice President, Business Transformation, and held a range of key leadership positions in commercial operations, corporate strategy, finance management and treasury. His previous assignments included General Auditor, Asia-region Controller, and Chief Financial Officer of CPChem's Q-Chem joint venture in Qatar.
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," Prusak said. “I want to personally thank him for his dedicated service and the meaningful contributions he made to our strategic growth and company culture."
