OMV boss Alfred Stern takes office-new chapter from August 2026!

OMV boss Alfred Stern takes office-new chapter from August 2026!

Vienna, Österreich - Alfred Stern, the CEO and CEO of the OMV, announced on May 20, 2025 that he will not extend his position beyond the current period. This announcement was made to the chairman of the supervisory board Lutz Feldmann and means that his current term of office will end on August 31, 2026. Stern, who took over the CEO position on September 1, 2021, came to the company with a three-year contract, which could be extended by two years if the approval could be approved on both sides. Previously, he headed the newly created chemicals & materials and was managing director of the OMV chemical daughter Borealis from 2018 to 2021. Before moving to the OMV leadership, he was responsible for the restructuring and the strategic realignment of the company, since his predecessors, especially Rainer Seele, had already taken a change of course towards petrochemistry.

The decision of Stern not to run for another term of office raises questions about the future strategic orientation of the OMV. Under his leadership, the proportion of the company in Borealis was increased from 36 to 75 percent, which underlines the importance of the chemical division for the group. During this time, the focus of the OMV also changed from an expansion in the area of oil and gas production to petrochemical products, a strategy that drives star in reprint.

market development and challenges

The OMV share price fell by about half a percent on Tuesday morning, which reflects the uncertainties associated with the upcoming change of leadership. This could also indicate the pressure of the market conditions, in which companies in the oil and gas sector are increasingly dealing with challenges such as regulatory changes and technological advances. These factors are crucial for the competitiveness and innovative strength of companies in the industry.

managers in the oil and gas sector are required not only to develop a clear vision, but also to act antipizatively in order to face future challenges and opportunities. Strategic thinking and the orientation of team efforts at long-term goals are of central importance in order to successfully master change in the industry. Stern's decision not to run the need to find a leader that proactively concerns these challenges. According to experts, a visionary manager is designed to effectively design the direction of the company and at the same time to secure the company's innovative strength.

How the OMV will develop under the future management and what strategic decisions will be made remains to be seen. The development in industry and the reaction of the market to leadership will be of great importance.