Alfred Stern, Chairman of the Executive Board and CEO of OMV Aktiengesellschaft, today informed the Chairman of the Supervisory Board, Lutz Feldmann, that he will not be available for a possible reappointment. His current term will therefore conclude as scheduled on August 31, 2026. Further information regarding succession planning will be communicated in due course.
Lutz Feldmann, Chairman of the Supervisory Board of OMV Aktiengesellschaft: “As CEO, Alfred Stern initiated the most extensive transformation in OMV’s corporate history. During his current term, he has pursued this path with consistency and remarkable success, achieving a series of historic milestones. I deeply regret his personal decision. With Alfred Stern, we are losing a CEO who has positioned the OMV Group for the future with a clear, forward-looking vision. I thank Alfred Stern for his exceptional leadership in times of great challenge. OMV has impressively succeeded in assuming a defining role in ensuring energy security, driving the energy transition and shaping industrial transformation, both nationally and internationally. I am looking forward to working with Alfred through the remainder of his tenure to ensure an orderly transition and wish him already now all the very best for the future.”
Alfred Stern, Chairman of the Executive Board and CEO of OMV Aktiengesellschaft: “Together with my Executive Board colleagues and our employees, we are pursuing the shared goal of reinventing essentials for sustainable living — always with a focus on our customers and their security of supply. Our transformation is on track, and we have reached significant milestones that enable long-term economic success and sustainable growth. I thank the Supervisory Board for their trust and the opportunity to lead OMV into a new era. It fills me with respect and pride looking at the achievements and the progress made across the OMV Group.”
Alfred Stern has been the CEO of the OMV Group since September 1, 2021. In addition, he is Chairman of the Supervisory Boards of OMV Petrom and Borealis, and a member of the Board of Directors at Air Products and Chemicals, based in Allentown, USA. Under his leadership, OMV has taken decisive steps to becoming an integrated company for sustainable chemicals, fuels, and energy, with a strong focus on innovative solutions in circular economy. Sustainability has been anchored in the Group strategy as a key innovation and growth driver. Amid a volatile geopolitical environment, Stern successfully accelerated the company’s strategic transformation and paved the way for the future.
During his current tenure, Alfred Stern spearheaded and has been instrumental on OMV’s side in realizing the landmark transaction of Borouge Group International (BGI), in equal partnership with ADNOC. The establishment of a global polyolefin company, with an estimated enterprise value of USD 60 billion, marks a major leap in OMV’s chemicals strategy and provides an attractive future growth platform.
Under Stern’s leadership, other strategic milestones include OMV’s successful management of the energy crisis through a complete diversification of its gas portfolio and decoupling from single-source dependencies, the investment in Neptun Deep in Romania, Europe’s largest natural gas development project; and the successful advancement of flagship innovation projects such as ReOil (chemical recycling), the deeep joint venture (geothermal energy), and sustainable aviation fuel (SAF).
About OMV Aktiengesellschaft
It is our purpose to re-invent essentials for sustainable living. OMV is transitioning to become an integrated sustainable chemicals, fuels and energy company with a focus on circular economy solutions. By gradually switching over to the low carbon business, OMV is striving to achieve net zero by 2050 at the latest. In 2024, the company generated revenues of 34 billion euros with a diverse and talented workforce of around 23,600 employees worldwide. OMV shares are traded on the Vienna Stock Exchange (OMV) and in the US on OTCQX (OMVKY, OMVJF). For more information, please visit www.omv.com.