ChemConnect Recruits Top Chemical Industry Executive, John K. Robinson, as CEO

John Beasley assumes role of Company Chairman and names BP Executive, John K. Robinson, as Chief Executive Officer

13-Oct-2000

San Francisco, October 10, 2000 – ChemConnect Inc., the largest global Internet Exchange for chemicals, plastics, and industrial gases, today announced that John K. Robinson, currently Group Vice President of BP (NYSE: BPA), is joining the company as Chief Executive Officer. Mr. Robinson takes the helm from John Beasley, a co-founder of ChemConnect, who will continue to serve as the company's Chairman. Coming at the end of a yearlong shakeout in online chemicals and plastics e-commerce marketplaces, the announcement coincides with ChemConnect's emergence as the clear leader in its space: The independent, e-commerce exchange of choice, for more than 11,000 trading members representing 110 countries, commands an enviable lead in the crowded chemical e-commerce landscape.

Mr. Robinson brings to ChemConnect his extensive background, built over a 30-year career, in the global chemicals industry with hands-on P&L experience and an outstanding track record for delivering results. Before joining ChemConnect, John had general management responsibilities for BP's aromatics and derivates business portfolio, with revenues over $4 Billion. In addition, John led BP's digital business efforts and, until he accepted his new position with ChemConnect, was a Board member of Elemica.

"ChemConnect has emerged as the clear leader in chemical e-commerce and is very well positioned to capture the massive opportunity that our market provides. To lead us through the next stage of our growth, we have found a leader with extensive direct chemicals industry experience," said John Beasley. "John Robinson has an excellent reputation. His intuitive grasp of the benefits of e-commerce, as conducted on the World Chemical Exchange, makes him the right match now for the best interests of our members, our employees, and our investors."

"Electronic commerce brings a whole new level of efficiency and effectiveness to the industry. The innovators are already experiencing the benefits of global e-commerce and are prepared to move more aggressively toward bringing the majority of their product sales and raw material purchases online." John Robinson said. "ChemConnect's role is to continue to increase product liquidity on the World Chemical Exchange to support the innovators' efforts and to accelerate adoption among those companies who have yet to make this key commitment. I understand the challenges these companies face, and it is my goal to show them how their participation in the World Chemical Exchange can make them more competitive."

"I've come to know John Beasley and his team at ChemConnect extremely well. In fact, it was BP's confidence in ChemConnect's business model, its strategy, and its organization that led to it's investment in ChemConnect," Robinson adds. "I have a tremendous admiration for John Beasley who is one of the brightest people I've ever met, and a man with boundless ingenuity and energy. With John's visionary ideas and my track record for making things happen, I believe we make a powerful combination to lead ChemConnect forward -- something I am personally committed to do."

In his role as Group Vice President at BP, Mr. Robinson was a member of the executive committee of BP's chemicals businesses responsible for a portfolio operating on four continents, with combined revenues of over $4 billion. At the time of the BP and Amoco merger, Mr. Robinson was charged with overseeing the successful integratio

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