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OMV Petrom extends Christina Verchere’s CEO mandate

24 February 2023
General Interest
Bogdan Tudorache

OMV Petrom announced on Thursday the extension of Christina Verchere‘s CEO mandate, as well as the appointment of Cristian Hubati as a new Member of the Directorate responsible for Exploration and Production activity.

“In today’s meeting, the Supervisory Board of OMV Petrom S.A. approved the appointment of the following members of the Directorate for a new four-year mandate, starting on April 17, 2023 and ending on April 16, 2027: Christina Campbell Verchere – General Executive Director and President of the Directorate, Alina Gabriela Popa – Financial Director and Member of the Directorate, Radu Sorin Căprău – Member of the Directorate responsible for Refining and Marketing activity, Franck Albert Neel – Member of the Directorate responsible for Gas and Energy activity, as well as the appointment of Cristian Hubati as a new Member of the Directorate responsible for Exploration and Production activity for a four-year mandate, starting from April 17, 2023 until April 16, 2027, as a result of the expiration on April 16, 2023, of Hans Christopher Veit‘s mandate as a member of the Board of Directors,” the OMV Petrom press release states.

Cristian Hubati graduated at the Politehnica University of Bucharest in 1995 and holds a master’s degree in business management from the Open University Business School, UK and a postgraduate certificate in Board Practice and Directorship from Henley Business School, UK. Cristian Hubati has 20 years of experience in the oil and gas industry. He joined OMV Petrom in 2007 and has held several management positions since then.

OMV Petrom is the largest energy company in Southeast Europe, with annual group crude oil and gas production of approximately 43 million boe in 2022. The group has a refining capacity of 4.5 million tons annually and operates an 860 MW high efficiency power plant. On the retail petroleum products distribution market, the Group is present in Romania and neighboring countries through approximately 780 gas stations, under two brands, OMV and Petrom.

OMV Petrom shares are traded on the Bucharest Stock Exchange and the London Stock Exchange. OMV Aktiengesellschaft, one of Austria’s largest listed industrial companies, owns 51.2% of OMV Petrom. The Romanian state, through the Ministry of Energy, owns 20.7% of OMV Petrom’s shares, and 28.1% is freefloat.

OMV Petrom is the largest contributor to the state budget, with approximately 39 billion euros representing fees, taxes and dividends paid between 2005 and 2022. During the same period, the company invested approximately 17 billion euros.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.

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