OMV has strengthened its team with the appointment of a new chief financial officer (CFO).
Reinhard Florey will assume the position later this year for a three-year period.
The company said there will be an option to extend the length of the 50-year-old’s contract for a further two years in addition.
Florey is currently CFO of the Finnish group Outokumpu.
The move will see David Davies, who currently holds the position, resign from his position one month before Florey is due to start.
Peter Oswald, chairman of the Supervisory Board of OMV, said: “With the appointment of Reinhard Florey we have succeeded in bringing on board an exceptional specialist of international stature.
“His experience in a listed company and his proven skills in thriving in a challenging environment make him the ideal appointment for CFO.
“In view of the extremely challenging backdrop at present, our primary aim was to rapidly clarify the long-term composition of the entire Executive Board.
“This is now complete with four members; the Executive Board can now dedicate all of its efforts to the long-term challenges of OMV.
“The focus in the coming years is clear: Rigorous cost discipline, strict cash management, and creating a sustainable Upstream portfolio”.