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Reinhard Florey appointed new CFO of OMV

Reinhard Florey, copyright Outokumpu

January 19, 2016 - 3:08 pm (CET)
In today´s meeting, the Supervisory Board of OMV Aktiengesellschaft appointed Reinhard Florey (50) as the new Chief Financial Officer of OMV Aktiengesellschaft. Florey has accepted the appointment. He will assume the position depending on his availability, at the latest with effect from August 1, 2016 for a three-year period, with an extension option for OMV for further two years. Florey currently holds the position of 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 resign from his position one month after the start date of Reinhard Florey´s mandate.

Peter Oswald, Chairman of the Supervisory Board of OMV Aktiengesellschaft: "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."

CV of Reinhard Florey
Born 1965 in Graz, Austria
Master of Science (Mechanical Engineering & Economics, Technical University Graz)
Master of Arts (University of Fine Arts Graz)

Since 2013: CFO Outokumpu Oyj
Since 2012: Member of the Outokumpu Leadership Team
10/2015-12/2015: Interim-CEO: Outokumpu Oyj
2012 - 2013: Executive Vice President – Integration and Strategy: Outokumpu Oyj
2011 - 2012: CFO: Inoxum GmbH
2009 - 2011: CFO – Steel Americas: ThyssenKrupp AG
2005 - 2009: SVP – Corporate Center Mergers and Acquisitions: ThyssenKrupp AG
2002 - 2005: SVP – Corporate Development/M&A: ThyssenKrupp Steel AG
1995 - 2002: Several positions at McKinsey & Company

Reinhard Florey is married and has two sons.

Background information:

OMV Aktiengesellschaft
With Group sales of EUR 36 bn, a workforce of around 25,500 employees and a market capitalization of EUR 7 bn as of December 31, 2014, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Upstream, OMV is active in two core countries, Romania and Austria, and holds a balanced international portfolio. OMV had proven oil and gas reserves (1P) of approximately 1.1 bn boe as of year-end 2014 and a production of approximately 309 kboe/d in 2014, thereof approximately 85% in EU/OECD countries. In Downstream, OMV has an annual refining capacity of 17.8 mn t and approximately 4,100 filling stations in 11 countries as of end of 2014. In addition, OMV operates a gas pipeline network in Austria and gas storage facilities in Austria and Germany. In 2014, natural gas sales volumes amounted to 114 TWh. OMV holds a 51% stake in the Romanian oil and gas company OMV Petrom S.A. and a 36% stake in Borealis AG, one of the world’s leading producers of polyolefins.

Next result announcement: January – December 2015 and Q4 2015 on February 18, 2016

download image: Reinhard Florey, copyright Outokumpu, (JPG, 3,6 MB)

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