ING Group has proposed Romanian power CEO Mariana Gheorghe, who runs the country’s largest company OMV Petrom, to be part of its supervisory board.  The financial group proposed Gheorghe and the shareholders should decide in their May 11 meeting whether to approve the appointment.

Mariana Gheorghe, 59, has dual Romanian-British citizenship, and has been running OMV Petrom in Romania for the last nine years. Prior to becoming the CEO, she was part of the Petrom board, as a representative of the European Bank for Reconstruction and Development (EBRD).  She is the most powerful woman CEO in Romania and one of the world’s most powerful women in business, according to Fortune magazine.

Gheorghe worked for the European Bank for Reconstruction and Development in London from 1993 to 2006 where she held various international positions. From 1991 to 1993 she was Deputy General Director, International Finance with the Finance Ministry of Romania.

Gheorghe currently runs the largest oil and gas producer in SEE, with a yearly profit exceeding EUR 1 billion in 2013.The profit however halved in 2014, while the turnover was down 11% last year, to EUR 4.85 billion, on lower oil and fuel prices.

OMV recently extended Mariana Gheorghe’s mandate at the helm of the Romanian subsidiary, by another four years. Her appointment to the ING group supervisory board is subject to the European Central Bank approval. The full ING Group announcement is here.

In Romania, ING Group runs ING Bank, which ranks 7th among local banks based on assets, with a 5.7% market share.

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editor@romania-insider.com