Reinhard Florey reappointed as CFO of OMV

In today’s meeting, the Supervisory Board of OMV AG has reappointed Reinhard Florey (57) as Chief Financial Officer. His term of office has thereby been extended to June 30, 2025, with an option for further extension until June 30, 2027 with mutual consent. Reinhard Florey has been serving as Chief Financial Officer of OMV since July 1, 2016.

Chairman of the OMV Supervisory Board, Lutz Feldmann: “As CFO, Reinhard Florey, has established an excellent finance strategy aligned towards a strong balance sheet and increasing sustainability. These measures have enabled OMV, in combination with others, to successfully manage its businesses amid a highly challenging external environment, as well as to support its energy transition story. The Supervisory Board looks forward to continuing working with Reinhard. The extension of his mandate is an important sign of promoting continuity, as the company moves ahead with its ambitious Strategy 2030.”

Reinhard Florey graduated in mechanical engineering and economics from Graz University of Technology while also completing his music studies at the University of Fine Arts in Graz. He started his career in corporate consulting and strategy consulting. From 2002 to 2012 he worked in different positions worldwide for Thyssen Krupp AG. Until June 2016, he served as CFO and deputy CEO of Finnish stainless-steel manufacturer Outokumpu Oyj. 

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 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 1,700 filling stations in eight 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.