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OMV PETROM S.A. - SNP

Directorate change - New CEO at OMV Petrom

Release Date: 1/9/2018 4:46:15 PM

IRIS Code: 3EBB7

 

 

New CEO at OMV Petrom

 

 

In today’s meeting, the Supervisory Board of OMV Petrom S.A. appointed Christina Verchere (46) as the new President of the Executive Board and Chief Executive Officer (CEO) of OMV Petrom. In line with OMV Petrom’s articles of association, the appointment has been made for the remaining term of the mandate granted to Mariana Gheorghe, until April 16, 2019. Christina Verchere accepted her appointment and she will assume the position depending on her availability, at the latest with effect from May 21, 2018.

Prior to the Supervisory Board meeting today, Mariana Gheorghe waived her mandate as President of the Executive Board and CEO of OMV Petrom. Her waiver shall become effective on the date when her successor takes office, but in any event on May 20, 2018, at the latest.

During the next months, Christina Verchere and Mariana Gheorghe will work closely together to ensure a smooth transition and to help the company reach its growth potential and achieve its ambitious objectives.

Rainer Seele, President of the Supervisory Board of OMV Petrom S.A. and CEO of OMV Group: Christina Verchere is an exceptional leader in the oil and gas industry, with a remarkable breadth of understanding of the business. We are delighted that she joins OMV Group as the CEO of our most important subsidiary, OMV Petrom S.A.. Christina Verchere’s selection came after a comprehensive assessment of internal and external candidates led by the Supervisory Board. In the past decade, OMV Petrom has transformed into an international competitive and highly profitable company under the leadership of Mariana Gheorghe. We would like to express our gratitude for Mariana Gheorghe’s leadership and strong performance dedicated to OMV Petrom during the past 12 years.

Mariana Gheorghe, CEO and President of the Executive Board of OMV Petrom S.A.: “After twelve tremendously intense years with OMV Petrom I consider it is the right time to leave and for Christina Verchere and a new generation of leaders to continue to build a great company. I am honored to have been involved in the transformation of OMV Petrom and developing its growth potential.

Christina Verchere, the designated CEO and President of the Executive Board of OMV Petrom S.A., on her appointment: “OMV Petrom is an outstanding company with huge potential, broad expertise and first class staff. I am delighted to take on this responsibility and excited about moving to Bucharest.

After her studies in Economics at the University of Aberdeen, Scotland, Christina Verchere started her career in 1993 and has spent over 20 years with an oil and gas supermajor, where she held numerous leadership positions in the UK, the US as well as in Canada. Since 2014 she has been the Regional President of the Asia Pacific region, located in Jakarta, Indonesia.

 

 

About OMV Petrom

OMV Petrom is the largest integrated oil and gas group in Southeastern Europe, with an annual oil and gas production of approximately 64 mn boe in 2016. The Group has a refining capacity of 4.5 mn tons / year and operates an 860 MW high efficiency power plant. The group is present on the oil products retail markets in Romania and neighboring countries through 787 filling stations, as of end September 2017, under two brands – Petrom and OMV.

OMV, one of Austria's largest listed industrial companies, holds a 51.01% stake in OMV Petrom. The Romanian state, via the Ministry of Energy, holds 20.64% of OMV Petrom shares, Fondul Proprietatea holds 9.9985%, and 18.35% is free float on the Bucharest Stock Exchange and London Stock Exchange.

OMV Petrom is the largest contributor to the state budget, with over EUR 24.5 billion paid in taxes, contributions and dividends between 2005 and September 2017.

Starting 2007, OMV Petrom has integrated the principles of corporate responsibility into its business strategy. In this period, the company has allocated approx. EUR 49 mn for the development of communities in Romania, focusing on environmental protection, education, health and local development.

 

Contact:

OMV Petrom Investor Relations

Tel: +40 372 161930, Fax: +40 372 868518

E-mail: investor.relations.petrom@petrom.com

 



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