Pierre Choquette, currently interim chairman of the board of directors, president and chief executive officer will also become the permanent chairman of the board of directors as well as continuing with his roles and responsibilities as CEO.

"These changes are very positive," says Choquette. "By realigning the executive duties and responsibilities we ensure that the company and in particular, our new plants in Trinidad, Chile and our proposed project in Australia, will benefit from the leadership, expertise and experience of two senior level executives."

In addition to the executive changes, three new board members will replace the three directors who resigned after NOVA sold its interest in Methanex in June.

The new directors are John Reid, president and CEO of Terasen Inc. Monica Sloan, managing partner, MES Associates, and A. Terence Poole, executive vice president, Corporate Strategy and Development, NOVA Chemicals Corporation.