The chief executive of Austria-based integrated oil company OMV, Gerhard Roiss, is resigning, with the company's downstream operations to be reorganised.
Roiss' resignation is effective from 30 June 2015, OMV said, with the company having already started a search for his successor.
OMV has also decided to integrate its gas and power businesses into its refining and marketing unit, creating a combined downstream operation. The new operation will be headed by OMV board member and head of refining and marketing, Manfred Leitner, as of 1 January. Contract negotiations will begin with OMV's head of gas and power, Hans-Peter Floren.
"OMV is in an exceptionally challenging situation at present," its supervisory board chairman Rudolf Kemler said. "The environment in the core markets is fundamentally different to what the assumptions used when the strategy was set up in 2011. When further developing the corporate strategy, special focus shall be placed on increasing profitability and an optimised risk profile."
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