July 15 (Reuters) - Chemicals maker Westlake on

Monday named former Mitsubishi Chemical Group CEO

Jean-Marc Gilson as its chief executive, effective today.

The company said Gilson would replace Albert Chao, who would

become the executive chairman of the Westlake board after

serving as the CEO over the last two decades.

Chao took charge of the company in July 2004 after helping

his father T.T. Chao and his brother James Chao in founding

Westlake in 1985.

Gilson assumed leadership of Mitsubishi Chemical ( MTLHF ) in April

2021 and had stepped down in March this year.

The newly appointed CEO would receive an annual base salary

of $1.25 million, according to a regulatory filing.

Westlake's products are used across a wide range of

industries including residential construction, automotive

products, water treatment and coatings.