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Austria : OMV gets new Chief Financial Officer.

The Supervisory Board of OMV Aktiengesellschaft has appointed Reinhard Florey (50) as the new Chief Financial Officer of OMV Aktiengesellschaft.

Florey will be assuming the position depending on his availability, at the latest with effect from August 1, 2016 for a period of three years, with an extension option for OMV for additional two years.

At present, Florey is placed as CFO of the Finnish Group Outokumpu, a global market and technology leader in the production of stainless steel.

The current Chief Financial Officer and Deputy Chairman of the Executive Board, David C. Davies, will be resigning from his position one month after the start date of Reinhard Florey's mandate.

Peter Oswald, Chairman of the Supervisory Board of OMV Aktiengesellschaft said, With the appointment of Reinhard Florey we have succeeded in bringing on board an exceptional specialist of international stature. His experience in a listed company and his proven skills in thriving in a challenging environment make him the ideal appointment for CFO. In view of the extremely challenging backdrop at present, our primary aim was to rapidly clarify the long-term composition of the entire Executive Board. This is now complete with four members; the Executive Board can now dedicate all of its efforts to the long-term challenges of OMV. The focus in the coming years is clear: Rigorous cost discipline, strict cash management, and creating a sustainable Upstream portfolio.

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Publication:Mena Report
Date:Jan 21, 2016
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