Headlines
New OMV chief executive could be found this year, chairman tells Reuters
Published by Global Banking & Finance Review®
Posted on August 7, 2025
2 min readLast updated: January 22, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on August 7, 2025
2 min readLast updated: January 22, 2026
OMV aims to appoint a new CEO by year-end to balance growth in oil and gas with climate-friendly initiatives, says Chairman Lutz Feldmann.
By Alexandra Schwarz-Goerlich
VIENNA (Reuters) -The chairman of OMV told Reuters he is eyeing the hiring of a new CEO this year, saying the new top executive would have to balance a push for growth at both its established oil and gas business and at new, more climate-friendly ventures.
In a surprise move, CEO Alfred Stern decided in May not to stand for re-election after his term ends in August 2026. Stern led a push towards sustainable fuels, chemicals and recycling.
"We are currently still at the very beginning of the recruiting process ... I really wouldn't rule out having a decision already by the end of the year," supervisory board chairman Lutz Feldmann said on Thursday.
Growth in the oil and gas business remains an important pillar of OMV, he said.
"But of course the chemicals business with all its facets is becoming increasingly important in our portfolio. The new CEO must also shape this," he added.
Feldmann added the appointee would have to deal with the strong pressure to change that both OMV and the wider energy industry are under. "This must also be taken into account in the selection process," said the Chairman.
($1 = 0.8747 euros)
(Reporting by Alexandra Schwarz-GoerlichWriting by Ludwig BurgerEditing by Madeline Chambers)
Sustainability in business refers to conducting operations in a way that meets current needs without compromising the ability of future generations to meet their own needs, often focusing on environmental, social, and economic impacts.
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