Anthony Chase
LyondellBasell IndustriesAbout Anthony Chase
Anthony “Tony” Chase (age 70) is an independent non‑executive director of LyondellBasell Industries N.V. (LYB) since 2021, currently in his 4th year of service . He is Chair and CEO of ChaseSource, L.P., and previously founded and sold Chase Radio Partners, Cricket Wireless and ChaseCom; he is an honors graduate of Harvard College, Harvard Law School, and Harvard Business School, and Professor of Law Emeritus at the University of Houston Law Center . The Board affirmed his independence under NYSE standards in February 2025 . He serves on LYB’s Audit Committee and Compensation & Talent Development (C&TD) Committee and is designated an Audit Committee financial expert under SEC rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ChaseSource, L.P. | Chairman & CEO | Founded 2006; ongoing | Built one of largest minority‑owned businesses; staffing, facilities, real estate |
| Chase Radio Partners | Founder | Prior to 2006 (sold) | Built and exited venture |
| Cricket Wireless | Founder | Prior to 2006 (sold) | Built and exited venture |
| ChaseCom | Founder | Prior to 2006 (sold) | Built and exited venture |
| Marriott Hotel at George Bush Intercontinental Airport (Houston) | Principal owner | Ongoing | Hospitality asset ownership |
| Principle Toyota (Greater Memphis) | Principal owner | Ongoing | Automotive retail ownership |
| Federal Reserve Bank of Dallas | Deputy Chairman | Prior role | Public policy and governance experience |
External Roles
| Company | Role | Since | Committees/Notes |
|---|---|---|---|
| Nabors Industries Ltd. | Director | 2019 | Oilfield services board experience |
| Cullen/Frost Bankers, Inc. | Director | 2020 | Financial services board experience |
| National Energy Services Reunited Corp. | Director | 2024 | Oilfield services board experience |
| Par Pacific Holdings, Inc. | Former Director | 2021–2024 | Prior energy board experience |
| Heritage‑Crystal Clean, Inc. | Former Director | 2020–2022 | Prior industrial services board experience |
| Anadarko Petroleum Corporation | Former Director | 2014–2019 | Prior E&P board experience |
Board Governance
- Independence: Board determined all non‑executive directors (including Chase) are independent under NYSE and LYB categorical standards (Feb 2025) .
- Committees and Attendance:
- Audit Committee member; 5 meetings in 2024; committee attendance 100%; designated Audit Committee Financial Expert .
- C&TD Committee member; 5 meetings in 2024; committee attendance 100% .
- Board activity: Board held 7 meetings in 2024; average director attendance 96%; each current director attended >80% of Board/committee meetings .
- Board leadership: Independent Chair (Jacques Aigrain); executive sessions at each regularly scheduled Board and committee meeting .
- Director commitments policy: Non‑executive directors should not serve on >4 public company boards (inclusive of LYB); Audit Committee members serving on >3 audit committees require Board review . Chase currently serves on three other public boards plus LYB, consistent with the policy .
Fixed Compensation
| Component | Policy Amount | 2024 Actual (Chase) |
|---|---|---|
| Board annual cash retainer | $115,000 | $0 (elected to receive in shares) |
| Board annual RSUs | $170,000 grant value; 1,692 units; 1‑year vest | Included in stock awards (see below) |
| Audit Committee member retainer | $15,000 | $0 (elected shares in lieu) |
| C&TD Committee member retainer | $10,000 | $0 (elected shares in lieu) |
| Intercontinental travel fee | $5,000 per trip | Received in shares; included in equity |
| 2024 equity (RSUs + shares in lieu of cash) | — | $316,730 total stock awards |
| All other compensation (tax prep, etc.) | — | $4,011 |
| 2024 total director compensation | — | $320,741 |
| Shares issued in lieu of cash (2024) | — | 1,652 shares |
Notes:
- LYB has not increased non‑Chair director pay since 2014; HSE&S Chair retainer aligned in 2023 .
- Directors may elect to receive cash components in shares; Chase elected full cash‑to‑stock in 2024 .
Performance Compensation
- Non‑employee directors receive time‑based RSUs (no performance metrics); RSUs vest one year from grant and accrue cash dividend equivalents .
- 2024 RSU units awarded: 1,692 (standard non‑Chair grant); grant in May; fair value based on grant‑date share price .
Other Directorships & Interlocks
| Potential Interlock/Transaction | Disclosure |
|---|---|
| Related‑party transactions involving Chase or entities he controls | None disclosed; Audit Committee annually reviews related‑party transactions; 2024 description lists Access Industries and other directors’ organizations, but not Chase . |
| Transactions with companies where LYB directors serve | Board noted ordinary‑course, arm’s‑length transactions involving other directors (Buchanan, Dudley, Farley, Kamsky, Karlin); amounts below materiality thresholds; none cited for Chase . |
Expertise & Qualifications
- Skills: CEO experience; corporate finance; risk management; corporate strategy; public company directorship; M&A; corporate governance; HSE; human capital; public policy & compliance; technology & innovation .
- Audit Committee Financial Expert designation (SEC rules) .
- Civic and academic credentials: Council on Foreign Relations member; numerous non‑profit boards; awards and recognition cited .
Equity Ownership
| Holder | Shares Owned | RSUs Vesting Within 60 Days | Stock Options Exercisable Within 60 Days | Ownership % of Outstanding |
|---|---|---|---|---|
| Anthony Chase | 7,527 | 1,692 | — | ~0.0023% (7,527 ÷ 322,837,438) |
Policy alignment:
- Director stock ownership guidelines: must hold ≥6× annual cash retainer ($690,000) before selling shares; RSUs count net of estimated tax; Chair has higher threshold; no selling below threshold .
- Hedging/pledging prohibited: no options, short sales, derivatives, or pledging/margin accounts for directors (extends to immediate family/related entities) .
Governance Assessment
- Alignment signals: Elected to receive all cash in stock and travel fees in shares in 2024; stock awards comprised RSUs plus shares in lieu of cash, strengthening ownership alignment . Strict anti‑hedging/pledging and robust director ownership guidelines reduce misalignment risk .
- Effectiveness: 100% committee attendance on Audit and C&TD; Audit financial expert designation supports oversight of financial reporting, controls and ESG disclosure quality . Board average attendance high (96%), with executive sessions at each meeting enhancing independent oversight .
- Workload/commitments: Three outside public boards plus LYB is within LYB’s director commitments policy (≤4 boards), mitigating overboarding risk; Audit Committee overboarding check applies only if >3 audit committees, which is not disclosed for Chase .
- Related‑party/conflicts: No related‑party transactions disclosed involving Chase or his controlled entities; Board/Audit Committee maintain an approval policy and reviewed other directors’ ordinary‑course relationships at arm’s length .
RED FLAGS
- None disclosed specific to Chase (no related‑party transactions, no hedging/pledging, strong attendance). Monitor cumulative board commitments across his external roles for potential time constraints, and any future LYB commercial relationships with entities he owns (e.g., hospitality assets) that would require Audit Committee review under LYB policy .
Contextual shareholder sentiment:
- Say‑on‑Pay approvals 98% (2024), 98% (2023), 97% (2022), indicating strong investor confidence in LYB’s compensation governance framework overseen by the C&TD Committee (of which Chase is a member) .