Romanian oil company OMV Petrom has announced CEO Mariana Gheorghe is to be replaced following a meeting of the supervisory board on Tuesday.
Her replacement Christina Verchere will take over before the remainder of Gheorghe’s term which ends on the 16th of April, 2019. Verchere will assume her role by the 20th May 2018 at the latest.
Gheorghe had already relinquished her mandate as CEO before the supervisory meeting and will step down on the day that Verchere takes office.
Shares in OMV Petrom rose by 0.5% to RON 0.3025 on the Bucharest Stock Exchange at the end of Tuesday trading.
Privatised in 2004, OMV owns 51% of OMV Petrom and the Romanian state 20.6%. It is the largest gas and oil supplier in Southeast Europe.
Rainer Seele, President of the Supervisory Board and CEO of OMV Group said:
“Christina Verchere’s selection came after a comprehensive assessment of internal and external candidates
led by the Supervisory Board. In the past decade, OMV Petrom has transformed into an international competitive
and highly profitable company under the leadership of Mariana Gheorghe.”
It is currently unknown why Gheorghe, who has been at the helm of OMV Petrom for over a decade, stepped down so suddenly.
(Photo: Ana Bulgar)
More on Romania
Warsaw’s Latest Moves Are Troubling International Investors
Last year, analysts were talking of a Polish economic miracle, hailing the country’s natural entrepreneurship and its shrewd investment of...
Journalism: The Future We Are Building
I am and (hopefully) always will be an idealist. If there was to be a writer for my world, it...
How Forgotten Communist Orphanages Tie in with Our Present
Democracy is the worst form of government, except for all the others. I was speaking to someone, just the other...