LyondellBasell Industries NV announced the retirement of its CFO and an increase in its quarterly dividend by 5% in two separate releases.

CFO and Executive Vice President Thomas Aebischer will retire at 2019-end, after serving the company since January 2016. The chemical company expects to name a replacement by the end of the year.

LyondellBasell also appointed Torkel Rhenman as executive vice president of the intermediates and derivatives division, effective July 1. He succeeds James Guilfoyle, who became executive vice president for advanced polymer solutions and global supply chain in 2018.

Separately, the company's board increased its quarterly dividend by 5% to $1.05 per share. The dividend is payable June 17 to shareholders of record as fo June 10, with an ex-dividend date of June 7.

LyondellBasell's shareholders also approved a share repurchase program to buy back up to 10% of the company's shares over the next 18 months. The company had about 370 million shares outstanding as of May 29.