Alfred Stern reappointed as CEO of OMV
In today´s meeting, the Supervisory Board of OMV Aktiengesellschaft reappointed Alfred Stern as Chairman of the Executive Board and CEO of OMV. Alfred Stern has accepted the mandate extension. The current term of office will be prolonged by two years until August 31, 2026.
„During the past couple of years, OMV has excellently managed the challenges under difficult external circumstances. Now, it is about continuing to implement its transformation, which has already started under Strategy 2030. Alfred Stern is best positioned for this endeavor with his competency profile and international expertise. The Supervisory Board has expressed its trust in Alfred Stern with today’s extension of his mandate. I look forward to working with him,“ said Lutz Feldmann, new Chairman of the Supervisory Board of OMV Aktiengesellschaft.
Background information
OMV Aktiengesellschaft
With Group sales revenues of EUR 62 bn and a workforce of around 22,300 employees in 2022, OMV is amongst Austria’s largest listed industrial companies.
In Chemicals & Materials, OMV through its subsidiary Borealis, is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers, and plastics recycling. Together with its two major joint ventures – Borouge (with ADNOC, in the UAE and Singapore) and Baystar™ (with TotalEnergies, in the USA) – Borealis supplies products and services to customers across the globe. OMV’s Fuels & Feedstock business produces and markets fuels as well as feedstock for the chemical industry, operates three refineries in Europe, and holds a 15% stake in a refining joint venture in the UAE. OMV operates around 1,800 filling stations in nine European countries. In the Energy segment, OMV explores and produces oil and gas in the four core regions of Central and Eastern Europe, Middle East and Africa, North Sea, and Asia-Pacific. Average daily production in 2022 amounted to 392 kboe/d. Its activities also include the Low Carbon Business as well as the entire gas business.
OMV intends to transition from an integrated oil, gas, and chemicals company to become a leading provider of innovative and sustainable fuels, chemicals, and materials, while taking a leading global role in the circular economy. By switching over to a low-carbon business, OMV is striving to achieve net zero in all three Scopes by 2050 at the latest.
OMV shares are traded on the Vienna Stock Exchange (OMV) and as American Depository Receipts (OMVKY) in the U.S.