Change of management at OMV: CEO Alfred Stern steps back!

Change of management at OMV: CEO Alfred Stern steps back!

As part of a significant change of management, Alfred Stern, CEO of the OMV, has announced his decision not to continue his position beyond the current term. This announcement was made on May 20, 2025 to Supervisory Board Chairman Lutz Feldmann. Stern informs that his contract expires on August 31, 2026 and that he is not available for a possible recovery. He has headed the company since September 1, 2021 and was previously CEO of the OMV chemical daughter Borealis. Feldmann regret about the decision of Stern and praised his achievements at a time when the OMV transformed into an integrated chemical, fuel and energy company. The realignment of the group comprised the increased integration of circular economy and sustainability into the corporate strategy, which is becoming increasingly important in the industry and is also proven by a current study.

Alfred Stern has achieved remarkable success in his term in office, including the responsible design of the plastic-joint venture Borouge with ADNOC, which has an estimated company value of around $ 60 billion. In addition, decisions such as the termination of gas delivery contracts with Russia and investments in the natural gas development project Neptune Deep in Romania played a central role in its strategy. Feldmann praised Stern for the introduction of the greatest transformation in the company's history of the OMV, while Stern emphasized the milestones achieved and the focus emphasized for sustainable growth and security of supply.

focus on sustainability and economy

The importance of sustainable transformation into companies has increased in recent years. According to a study by Bain and the Future Institute for Sustainable Transformation, over 90 % of the managers surveyed consider sustainable initiatives to be just as important or even more important than three years ago. Such developments in corporate management have become necessary to meet the challenges of changing market landscape.

The study also shows that more than 80 % of managers assess sustainability than one of the three most important strategic priorities. The pressure on companies is growing to continuously check and adapt their sustainability strategies. An increase in requirements through governance topics and regulatory requirements, such as the EU CSRD reporting, increases the need for action.

The review of Alfred Stern's term of office gives an idea of ​​how important these topics will remain in the future. His decision not to start re -election comes at a time when companies are increasingly looking for new business areas and at the same time have to pay attention to economy - a reaction to the challenges mentioned and the current poly crisis.