Westlake Names New CFO with Oil & Gas, Packaging Experience
Event summary
- Jonathan H. Baksht joins Westlake as Senior Vice President and CFO, effective immediately.
- Baksht succeeds M. Steven Bender, who transitions to Special Advisor role on June 15, 2026, before retiring by year-end.
- Baksht previously served as CFO at Fortune Brands Innovations (2025-2026) and Pactiv Evergreen (2022-2025).
- He has experience navigating corporate restructuring, including Valaris' Chapter 11 bankruptcy (2020-2021).
- Baksht holds degrees from University of Texas at Austin and Kellogg School of Management.
The big picture
Westlake's appointment of a CFO with deep experience in both oil & gas and packaging sectors reflects the company's strategic positioning at the intersection of these industries. The move comes as chemical manufacturers increasingly diversify into sustainable materials and specialty products. Baksht's background suggests Westlake may be preparing for potential financial restructuring or major capital allocation decisions.
What we're watching
- Industry Transition Impact
- How Baksht's cross-industry experience will shape Westlake's strategic direction in chemicals and packaging.
- Restructuring Expertise
- Whether his bankruptcy navigation skills at Valaris could prove valuable for Westlake's future financial maneuvers.
- Leadership Continuity
- The pace at which Baksht can integrate into Westlake's culture before Bender's full retirement by year-end.
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