OMV AG has appointed Alfred Stern as its new CEO and chairman. He will take over the post Sept. 1.
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.”
Stern's appointment is currently set for three years, with an option to add another two years. He is currently OMV executive board member for chemicals and materials. Current OMV CEO and Chairman Rainer Seele is set to leave that post on Aug. 31.
The ideal foundations are now in place for the upcoming transformation process, Stern said.
“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 decarbonization of our business, and we will be proactive in utilizing the respective changes across the entire product portfolio, including circular economy, in order to successfully continue our profitable and sustainable growth.”