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Published March 25, 2015

Changes in OMV Petrom Executive Board

  • Lăcrămioara Diaconu-Pinţea takes over gas and power activities
  • OMV Petrom’s business segments renamed

OMV Petrom, the largest oil and gas producer in Southeastern Europe, announces the appointment of Lăcrămioara Diaconu-Pinţea as member of the OMV Petrom Executive Board responsible for Downstream Gas, starting April 17th, 2015, following the cease of Cristian Secoşan’s mandate.

The appointment of Lăcrămioara Diaconu-Pinţea took place during the OMV Petrom Supervisory Board meeting of OMV Petrom of March 24th, 2015.

During the same meeting, the Supervisory Board decided to change the names of OMV Petrom’s business segments without affecting the company’s organizational structure. The decision was taken in order to mirror the business segments names within OMV Group and to thus enable comparability of financial results reported under IFRS.

Thus, Exploration and Production becomes Upstream, Refining and Marketing becomes Downstream Oil and Gas and Power becomes Downstream Gas.

Gerhard Roiss, Chairman of OMV Petrom Supervisory Board: "I would like to thank Mr. Secosan for his contribution to the company’s performance over the last few years. Mr. Secoşan’s expertise in the energy sector helped streamline the Gas and Power division enabling it to better cope with the difficult business environment. During his mandate the division was reorganized as to sharpen its market focus. We thank him for his efforts and wish him success in his future business plans.

I also welcome Lăcrămioara Diaconu-Pinţea as member of OMV Petrom Executive Board. She has been with the company in the last 17 years and she has also been involved in Brazi power plant project since the beginning. With this appointment I’m proud to highlight the diversity of OMV Petrom Executive Board, 40% being represented by women and also the fact that Romanians who developed within the company and the OMV Group are now part of the top management."

41-year old Lǎcrǎmioara Diaconu-Pinţea graduated the Academy of Economic Studies Bucharest in 1997 with a degree in Finance. In 2008 she graduated the MBA program of Wirtschaftsuniversität Wien (University of Economics Vienna). She started her career in OMV Petrom in 1998 in the Strategy, Planning, Development Department. Subsequently she held various managerial positions within OMV Petrom, from Corporate Development Director having responsibilities in Mergers & Acquisitions, Investors Relations and Strategy, to Director of Business Unit Power, since its establishment in October 2007. During January 2012 – September 2013, Lǎcrǎmioara was Vice President Investor Relations for OMV Group. She is currently in charge of Exploration & Production Business Support of OMV E&P Gmbh in Vienna.

About OMV Petrom
OMV Petrom is the largest integrated oil and gas group in South-Eastern Europe, with an annual oil and gas production of approximately 66 mn boe. The Group has a refining capacity of 4.2 mn tons / year and owns an 860 MW high efficiency power plant and a 45 MW wind park. OMV Petrom is present on the oil products retail markets in Romania and neighbouring countries through approximately 780 filling stations.

OMV, one of Austria’s largest listed industrial companies, holds a 51.01% share in OMV Petrom. The Romanian state, via the Ministry of Energy, Small and Medium Enterprises and Business environment, holds 20.64% of OMV Petrom shares, the Property Fund holds 18.99% and 9.36% is free float on the Bucharest Stock Exchange.

In the last ten years investments for the consolidation and modernization of OMV Petrom amounted to more than EUR 11 bn. The annual direct, indirect and induced impact of OMV Petrom in Romania’s GDP is around 4.5%.

Starting 2007, OMV Petrom integrated the principles of corporate responsibility within its business strategy. In this period, the company allocated more than EUR 40 mn for the development of communities in Romania, focusing on environment protection, education, health and local development. Andrei’s School is the main platform for community involvement.

For more details and information:
OMV Petrom Media Relations: +40 (372) 161547, press.office@petrom.com
Website: www.petrom.com