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OMV Supervisory Board Chairman Peter Löscher

News Release, May 18, 2016 - 07:50 pm (CEST)
Peter Löscher, the new Chairman of the OMV Supervisory Board, on his new role: "I would like to thank all of the shareholders for the trust that they have placed in me with the election to the OMV Supervisory Board on 18 May 2016. The company, its shareholders and its staff have my full support".

OMV currently finds itself in a challenging market environment. Since the start of the year the average oil price has been around USD 40 per barrel. The entire industry has had to adjust to this new price level.

In this regard Peter Löscher sees the close cooperation between the Supervisory Board and the Executive Board of OMV as a critical success factor: "The current focus is on consistently and successfully implementing the strategy adopted by the Executive Board under the leadership of CEO Rainer Seele. OMV is on the right path". 

The former CEO of Siemens on OMV’s prospects: "I am convinced that the Executive Board together with the employees will make OMV fit for the future. Particularly in these extremely challenging economic times, I am pleased to be able to bring my longstanding international experience to support Austria’s most important industrial company".

Background information:

OMV Aktiengesellschaft
With Group sales of EUR 23 bn and a workforce of around 24,100 employees in 2015, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Upstream, OMV focuses on three core regions – CEE (Romania, Austria), North Sea as well as Middle East and Africa – and selected development areas.  2015 daily production stood at approximately 303 kboe/d. In Downstream, OMV has an annual refining capacity of 17.8 mn tonnes and approximately 3,800 filling stations in 11 countries as of end of 2015. OMV operates a gas pipeline network in Austria and gas storage facilities in Austria and Germany. In 2015, gas sales volumes amounted to 110 TWh.