Executive Board
With deep industry expertise and a clear vision for the future, the Executive Board leads the company on delivering on its strategy and generating long term value for all stakeholders.
The Executive Board manages the day-to-day business of the company. It is elected by the Supervisory Board and consists of five members, whose current mandates run starting April 2023:
Christina Verchere (1971) - Chief Executive Officer and President of the Executive Board
Christina Verchere holds a Master degree in Economics Science from the University of Aberdeen, Scotland. She started her career in 1993 and has spent over 20 years with an oil and gas supermajor, where she held numerous leadership positions in the UK, the US, Canada and Indonesia. Between 2012 - 2014, she has been the Regional President Canada of BP located in Calgary and between 2014 - 2018, she has been the Regional President of the Asia Pacific region located in Jakarta, Indonesia. She was appointed Chief Executive Officer and President of the Executive Board of OMV Petrom starting May 1, 2018.
Alina Popa graduated from Bucharest Academy of Economic Studies in 1999 and is a member of ACCA (Association of Chartered Certified Accountants in the UK) since 2005, being also certified by ACCA in Sustainability for Finance in 2024. With her career starting at Deloitte Romania, Alina Popa joined OMV Petrom in 2006 and has held leadership positions in finance functions, coordinating important projects in the financial field. Between 2015 and 2019, she has been the General Manager and President of the Board of Directors of OMV Petrom Global Solutions, the Shared Service Center of OMV Group. She was appointed Chief Financial Officer and member of the OMV Petrom Executive Board as of April 17, 2019.
Alina Popa (1977) - Chief Financial Officer and Member of the Executive Board
Cristian Hubati (1971) - Member of the Executive Board responsible for Exploration & Production
Cristian Hubati graduated the Faculty of Electrical Engineering from Polytechnic University of Bucharest in 1995 and holds a master’s degree in Business Administration from Open University Business School, UK and also a postgraduate certificate in Board Practice and Directorship from Henley Business School, UK. Cristian Hubati has 20 years of experience in the oil and gas industry. He joined OMV Petrom in 2007 and he held since then various management positions in the OMV Group. He was appointed member of the OMV Petrom Executive Board starting April 17, 2023.
After graduating the Faculty of Management from the University of Economic Studies in Braşov, Radu Căprău started his career in the sales area, before joining OMV Petrom in 2000 as Area Manager for OMV Romania. Since then, he held various management positions within OMV Petrom Group in Romania and Bulgaria, being responsible for Retail, Supply, Logistics & Sales and Petrom Aviation. In 2018, he was the Head of Crude Supply & Trading within OMV Refining & Marketing GmbH in Vienna. He was appointed member of the OMV Petrom Executive Board as of October 1, 2018.
Radu Căprău (1974) - Member of the Executive Board responsible for Refining & Marketing
Franck Albert Neel (1970) - Member of the Executive Board responsible for Gas & Power
Franck Neel studied Energy at the University of Rouen and received an Engineer Degree and then followed a Master of Mechanical Engineering at Cranfield University in United Kingdom. Later on, he earned an Executive Degree from the London Business School. Franck Neel spent 25 years working for the Group Engie. Thus, he started his career at Gaz de France in the engineering department for seven years and then moved to Marketing and Sales with different functions in different countries such as France, Czech Republic, Hungary, Netherlands, Italy and United Kingdom before joining OMV Petrom. He was appointed member of the OMV Petrom Executive Board as of July 1, 2018.
Organization & Functioning
The Executive Board consists of five members appointed by the Supervisory Board for a four-year mandate. One Executive Board member is appointed as President (Chief Executive Officer of the Company).
The Executive Board meets regularly (at least once every two weeks, but usually every week) and whenever necessary for the operative management of the Company’s daily business.
The Executive Board may hold meetings in person or by telephone or video conference. The Executive Board shall have a quorum if all members were invited and if at least three members are personally present. The Executive Board shall pass its resolutions by simple majority of the votes cast. In the event of a tie, the President shall have a casting vote. However, the President shall endeavor in her/his best efforts to achieve that, to the extent possible, resolutions are passed unanimously.
Should the nature of the situation require it, the Executive Board can pass a resolution by circulation based on the written unanimous agreement, without an actual meeting being held. The President shall assess whether such a procedure is called for. Such a procedure may not be used for resolutions pertaining to the annual financial statements of the Company or its registered share capital.
Attributions & Responsibilities of the Executive Board
The Executive Board is the corporate body that runs the day to day business of the Company and represents it in relation with third parties. In particular, the main attributions of the Executive Board are:
- to establish the strategy and policies regarding the development of the Company, including the organization structure of the Company and the operational divisions;
- to submit annually for the approval of the GMS the report regarding the business activity of the Company, the financial statements for the previous year, as well as the business activity and budget projects of the Company for the current year;
- to make recommendations to the shareholders regarding the distribution of profits;
- to undertake all the measures necessary and useful for the management of the Company, implied by the daily management of each division or delegated by the GMS or by the Supervisory Board, with the exception of those reserved to the GMS or to the Supervisory Board through operation of law or of the Articles of Association;
- to exercise any competence delegated by the Extraordinary GMS.
Conflict of Interest
Rules with regard to conflicts of interest are laid down in the Companies’ Law and Bucharest Stock Exchange Corporate Governance Code.
In accordance with Companies’ Law members of the management bodies must exercise their mandate with the prudence and diligence of a good administrator, with loyalty, acting in the company’s interest, refraining from disclosing confidential information and commercial secrets. Likewise, directors having interests in a certain operation, directly or indirectly, contrary to the interests of the company, must notify the other directors and the auditors or internal auditors about it and must not take part in any deliberation regarding the respective operation.
Along the same lines, as per the rules with regard to conflicts of interest established at the level of company, members of the Executive Board must disclose material personal interests in company transactions or other conflicts of interest to the Supervisory Board, immediately and report them to the Executive Board. Acceptance of other professional commitments outside the OMV Petrom Group by members of the Executive Board requires the approval of the Supervisory Board.