The Chairman of the Executive Board and CEO of OMV Aktiengesellschaft does not intend to extend his contract, which expires at the end of August next year.
 

As the Austrian oil, gas, and chemicals company OMV announced in a press release, Stern informed Supervisory Board Chairman Lutz Feldmann of his decision at the beginning of the week. He will therefore leave the company as planned on August 31, 2026. OMV will announce details of his successor in due course.
 
“As CEO, Alfred Stern initiated the biggest transformation in OMV's history,” said Supervisory Board Chairman Lutz Feldmann. “I very much regret his personal decision. We are losing a CEO who positioned the OMV Group with a clear vision for the future.” Stern is satisfied with what has been achieved so far: “Our transformation is on track, and we have reached important milestones that will enable us to achieve long-term economic success and sustainable growth.” The 60-year-old took over the management of Austria's largest industrial group in September 2021, after previously spending several months as head of the new “Chemicals & Materials” business area. As CEO of OMV, Stern is also Chairman of the Supervisory Board of the subsidiaries OMV Petrom and Borealis and a member of the Supervisory Board of Air Products and Chemicals in Allentown, USA. An important milestone during his tenure was the agreement reached in March 2025 with core shareholder Adnoc on the merger of the petrochemical subsidiaries Borealis and Borouge. Stern led OMV to become an integrated company for sustainable chemicals, fuels, and energy with a focus on innovative solutions in the circular economy. According to OMV, sustainability is firmly anchored in the Group's strategy as an important driver of innovation and growth.
 
Sources:

• Press release OMV (20.5.2025)
• Photo: © OMV