OMV Board Panel Recommends Cutting Short CEO Contract

Reuters

VIENNA, Oct 9 (Reuters) – Austrian newspaper Die Presse said on Thursday the contracts of OMV Chief Executive Gerhard Roiss and the head of OMV's gas division Hans-Peter Floren may be cut short before they run out in 2017, citing a recommendation from a board subcommittee.

OMV declined to comment.

"Some scenarios were discussed yesterday, no decisions were made. These decisions will not be made before October 14 (at a supervisory board meeting)," one source familiar with the matter told Reuters.

"What was reported in Die Presse was in that form not part of the scenarios under discussion," the source said. Only the supervisory board itself can make such decisions.

Austrian state holding company OIAG, which holds a 31.5 percent stake in oil and gas firm OMV, also declined to comment.

(Reporting by Shadia Nasralla; Editing by Mark Potter)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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