Songwon Industrial Co has appointed Maurizio Butti as its new CEO, effective March 18, 2016, following a re-organisation of the company's board of directors for better corporate governance. The company's board now has seven members, including two external directors, from four previously, Butti told ICIS on the sidelines of the International Petrochemical Conference (IPC). The CEO position was previously held by Songwon chairman Jongho Park.

Before assuming his new post, Butti was the chief operating officer (COO) of Songwon.