The Supervisory Board of OMV Aktiengesellschaft has appointed Alfred Stern (56) as the new Chairman of the Executive Board and CEO of OMV, effective 1 September.
Stern has accepted the appointment and will serve for a three-year period with an extension option for further two years subject to mutual consent.
Alfred Stern is currently OMV Executive Board member for Chemicals & Materials. The current Chairman of the Executive Board and CEO of OMV Rainer Seele will resign from his position in the Executive Board by mutual agreement on August 31, 2021.
As the former CEO of Borealis, Stern has extensive experience in a leadership role in the global chemical industry. At Borealis, he oversaw that company’s evolution towards a circular economy: an evolution that at OMV is only starting to take shape. The expertise gained over the years in this space will serve him well in this new position.
“OMV stands on the cusp of a major transformation in the direction of chemicals and a circular economy,” said Mark Garrett, Chairman of the Supervisory Board of OMV.
“A transformation in which a large portfolio will need to be managed across a far-reaching value chain – from the wellhead to the refinery and filling station to high-end chemicals & materials and recycling.
I am happy that, in this decisive phase for the company, we have managed to bring on board Alfred Stern as CEO.”
Thanking Rainer Seele for his achievements in reshaping the company, Garret emphasised the importance of Seele’s contribution to the current process of transformation and his decisive realignment of the OMV portfolio while significantly increasing profitability.
“The Borealis acquisition also meant that he took the first major, trailblazing step in this transformation process,” said Garret.
The ideal foundations are now in place for the upcoming transformation process, said CEO-elect Stern.
“The energy transition will lead to changes in the backdrop of the various markets and sectors, but they will be different and come at different speeds. We will actively drive the decarbonisation of our business, and we will be proactive in utilising the respective changes across the entire product portfolio, including circular economy, in order to successfully continue our profitable and sustainable growth.”