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Thursday, December 16, 2004

OMV installs new directors at Petrom

OMV Wednesday installed the interim directors at Petrom, who will keep their positions until the next Petrom shareholders' meeting, scheduled for mid next month.

The two are OMV's directors are:

Werner Schinhan, who has acted as observer in Petrom since signing the privatization contract, and
Hilmar Kroat-Reder, head of OMV's Mergers & Acquisitions.

Schinhan will act as deputy CEO responsible for Corporate Development, Corporate Affairs, Treasury and Chemicals after his resignation as interim director scheduled for mid-January.

Also, the Managing Committee was reappointed. The Managing Committee includes four members of OMV and two members of Petrom.

The two Romanian are: Gheorghe Constantinescu, who will continue as Chief Executive Officer (CEO) and Florian Constantinescu who will oversee the Refining division.

In addition, OMV managers Reinhard Pichler, Werner Ladwein and Tamas Mayer, will resume positions in the Committee.

Pichler will act as Chief Financial Officer (CFO), Ladwein will be in charge of upstream operations, Mayer will be responsible for the Marketing business of Petrom.

Pending the decision of the shareholders' meeting, the future Petrom Board of Directors will consist of seven members, four of which will be the OMV Executive Board Wolfgang Ruttenstorfer, Gerhard Roiss, David Davies, Helmut Langanger.

Two Board members will be appointed by the Romanian government and one member will be independent.

Posted by Iulia Rasoiu : 12/16/2004 09:45:00 am