Reinhard Florey is Reappointed as OMV’s CFO

The Supervisory Board of OMV AG has reappointed Reinhard Florey, aged 57, to continue his role as Chief Financial Officer. This extension is effective until June 30, 2025, with the possibility of further extension until June 30, 2027, subject to mutual consent. Reinhard Florey has been serving as Chief Financial Officer of OMV since July 1, 2016.

Reinhard Florey holds degrees in mechanical engineering and economics from Graz University of Technology and has also completed music studies at the University of Fine Arts in Graz. He began his career in corporate consulting and strategy consulting. From 2002 to 2012, he held various positions globally at Thyssen Krupp AG. Until June 2016, he served as CFO and deputy CEO of the Finnish stainless-steel manufacturer Outokumpu Oyj.

In 2022, OMV achieved Group sales revenues of EUR 62 billion and had a workforce of approximately 22,300 employees. It is one of Austria’s largest listed industrial companies. In the field of Chemicals and Materials, OMV, through its subsidiary Borealis, is a leading provider of advanced and circular polyolefin solutions worldwide and is a European market leader in base chemicals and plastics recycling. Borealis, in partnership with its two major joint ventures – Borouge (with ADNOC, in the UAE and Singapore) and Baystar™ (with TotalEnergies, in the USA), serves customers globally. OMV’s Fuels and Feedstock business is involved in the production and marketing of fuels and feedstock for the chemical industry, operating three refineries in Europe and holding a 15% stake in a refining joint venture in the UAE. OMV also manages approximately 1,700 filling stations in eight European countries. In the Energy segment, OMV explores and produces oil and gas in the four core regions of Central and Eastern Europe, Middle East and Africa, North Sea, and Asia-Pacific, with an average daily production of 392 kboe/d in 2022. Additionally, OMV is engaged in the Low Carbon Business and the entire gas business.

Lutz Feldmann, Chairman of the OMV Supervisory Board, commented on this decision, saying, “As CFO, Reinhard Florey has established an excellent finance strategy aligned towards a strong balance sheet and increasing sustainability. These measures have enabled OMV, in combination with others, to successfully manage its businesses amid a highly challenging external environment, as well as to support its energy transition story. The Supervisory Board looks forward to continuing working with Reinhard. The extension of his mandate is an important sign of promoting continuity as the company moves ahead with its ambitious Strategy 2030.”

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