OMV Appoints New CFO

OMV has appointed Reinhard Florey as its new chief financial officer, effective August 1 2016, at the latest, according to a company statement.

Florey will assume the position for a three-year period, with an extension option for OMV for a 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, commented in a company statement:

"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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