CEO Roiss: “OMV: an international player with Austrian roots”
04. April 2011. | 07:11
Gerhard Roiss became CEO of OMV Aktiengesellschaft on April 1. Strategy review on three main areas: regional focus, portfolio development and future challenges. Strategy presentation at OMV Media Summit and Capital Markets Days in Istanbul this September
Gerhard Roiss took over the role of CEO at OMV Aktiengesellschaft with effect from April 1.
Since 2002, Mr Roiss has acted as Deputy Chairman of the Executive Board and was responsible for Refining and Marketing including petrochemicals. Prior to this, Mr Roiss headed up the Exploration and Production unit.
“OMV has gone from strength to strength in the past few years, and this is demonstrated by our facts and figures. Our recent acquisition of Turkish company Petrol Ofisi has also enabled us to expand our position significantly in the growing Turkish market. The task now is to consolidate the company’s three core markets and increase the resulting potential synergies within the context of an integrated energy group,” said Roiss, during a press conference in Vienna to mark the start of his tenure as CEO .
Mr Roiss will also initiate a further review of the company’s strategy with the objective of balancing out OMV’s portfolio of companies. The process will be based on the three core themes that are: regional focus, portfolio development and future challenges.
As an example, a large share of the capital is currently tied up in the Refining and Marketing business, while the Exploration and Production unit generates the majority of EBIT. Here, areas of focus will be redefined and adapted to the market environment.
The Gas and Power business will gain in importance for OMV in the coming years. The effects of recent events in Japan among other factors will see natural gas grow in importance as a source of energy.
“Natural gas is a low-emission energy source and offers an important alternative in view of recent developments and the long-running climate and energy debate,” said Mr Roiss.
OMV’s first 860 MW gas-fired combined cycle power plant will become operational in Brazi, Romania before the end of the year. This will be followed in 2012 by the OMV power station in Samsun, Turkey. The latter plant will cover around 3% of Turkey’s power requirement.
Natural gas also provides OMV with the option of expanding its supply chain by allowing it to trade in electricity as well as produce electricity.
“With regard to the long-term portfolio development, we remain realistic that our core business – Exploration and Production – will continue to form the backbone of our Group,” said Mr Roiss. The company strategy will be presented during the planned Media Summit and Capital Market Days in Istanbul this September.
With reference to questions about the refinancing of the company, this issue is of particular importance to the new CEO. Capital and cost discipline and a strong investment grade credit rating are the top priorities. A decision should be made in the first half of 2011.