Reinhard Florey reappointed as CFO of OMV
In today’s meeting, the Supervisory Board of OMV Aktiengesellschaft reappointed Reinhard Florey (54) as Chief Financial Officer of OMV Aktiengesellschaft. His term of office has thereby been extended by another three years to June 30, 2024. Reinhard Florey has been Chief Financial Officer of OMV since July 1, 2016.
Chairman of the OMV Supervisory Board, Wolfgang C. Berndt: “OMV has experienced an exceptional evolution over the past few years. It has achieved record results and – as seen recently – managed to demonstrate impressive financial stability in an extremely tough market environment. This is the result of an integrated and diversified business model coupled with efficient cost management and a clear finance strategy aligned towards cash flow and a strong balance sheet. The recent successful bond issues, which were heavily oversubscribed and add up to 4.5 billion euros, reflect how attractive OMV is for investors. The Supervisory Board looks forward to continuing its cooperation with Reinhard Florey as CFO and is deliberately promoting continuity in order to continue along its successful path”.
Reinhard Florey graduated in mechanical engineering and economics from Graz University of Technology while also completing his music studies at the University of Fine Arts in Graz. He started his career in corporate consulting and strategy consulting. From 2002 to 2012 he worked in different positions worldwide for Thyssen Krupp AG. Until June 2016 he served as CFO and deputy CEO of Finnish stainless steel manufacturer Outokumpu Oyj.
Background information:
OMV Aktiengesellschaft
OMV produces and markets oil and gas, innovative energy and high-end petrochemical solutions – in a responsible way. With Group sales of EUR 23 bn and a workforce of around 20,000 employees in 2019, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Upstream, OMV has a strong base in Central and Eastern Europe as well as a balanced international portfolio, with Middle East & Africa, the North Sea, Russia and Asia-Pacific as further core regions. Daily average production was 487,000 boe/d in 2019. In Downstream, OMV operates three refineries in Europe and owns a 15% share in ADNOC Refining and Trading JV, with a total annual processing capacity of 24.9 mn tons. Furthermore, OMV has a 36% participation in Borealis, one of the world’s leading producers of polyolefins. The Company operates about 2,100 filling stations in ten European countries. OMV runs gas storage facilities in Austria and Germany; its subsidiary Gas Connect Austria GmbH operates a gas pipeline network in Austria. In 2019, gas sales volumes amounted to around 137 TWh. Sustainability is an integral part of OMV’s corporate strategy. OMV supports the transition to a lower-carbon economy and has set measurable targets for reducing carbon intensity and introducing new energy and petrochemical solutions.