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Ruttenstorfer leaves OMV

Published: March 31, 2011; 01:23 · (Vindobona)

The longtime CEO of OMV, Wolfgang Ruttenstorfer will pass on his position to Gerhard Roiss on April 1.

Ruttenstorfer leaves OMV / Picture: © Flickr / European Bank for Reconstruction and Development

Ruttenstorfer took over the leadership of Austria's largest industrial group in 1997; he previously served as Financial Secretary of the SPÖ.

The decision that Roiss will succeed Ruttenstorfer was already made two years ago. The formal farewell took place last night, when Ruttenstorfer was appropriately honored.

His greatest merit has been that in 2004 a majority share of the Romanian Petrom was acquired, turning OMV into the largest oil group in Central Europe, says the Chairman of the SupervisoryBoard, Peter Michaelis. Furthermore, Ruttenstorfer initiated the Nabucco pipeline project and was able to successfully complete the purchase of the Turkish Petrol Ofisi.

Roiss stressed his independence from political parties, as well as his intention, to continue the course set by Ruttenstorfer. Insiders do not expect that Roiss will provide any surprises either.

A new member of the board is Manfred Leitner, who as successor to Roiss will take on the areas of Refining and Marketing.

OMV’s Executive Board is made up as follows from 1 April 2011: Gerhard Roiss (President and CEO), David C. Davies (Deputy Chairman, Finance), Werner Auli (board member for Gas & Power), Jaap Huijskes (Exploration and Production) and Manfred Leitner ( Refining and Marketing).