The supervisory board of OMV Aktiengesellschaft appointed Alfred Stern as the new chairman of the executive board and CEO of OMV, the company said on June 1.
Stern will assume the position with effect from September 1, 2021 for a three-year period with an extension option for further two years subject to mutual consent. Stern is currently OMV executive board member for chemicals and materials. The current chairman of the executive board and CEO of OMV Rainer Seele will resign from his position in the executive board by mutual agreement on August 31, 2021.
“I am happy that, in this decisive phase for the company, we have managed to bring on board Alfred Stern as CEO,” Mark Garrett, chairman of the supervisory board of OMV, said. “His specialist expertise as well as his international management and CEO experience in the chemical industry make him the ideal candidate to lead this transformation. In recent years, Alfred Stern and his team have not only secured an excellent market position for the Borealis polyolefin business, but also overseen the company’s evolution towards a circular economy.”
Proven geological reserves are estimated at more than 1 billion tonnes shale oil, Xinhua reported June 20.
Santos said the approval would also kickstart a $600 million investment to extend the life of the Darwin LNG plant by 20 years.
Santos has signed a binding letter of intent to acquire a 14.3% interest in in Petroleum Retention License 3 (PRL 3), which contains the P’nyang natural gas field in Papua New Guinea, the company said in a news release May 16.