OMV Petrom, the most valuable local company listed on the Bucharest Stock Exchange, announced the appointment of Stefan Waldner as financial director and member of the company's management starting July 1, following the resignation of Andreas Matje from that position.

Matje, who has been coordinating OMV Petrom’s financial department since January 2013, will return to the OMV headquarters in Vienna.

"Andreas Matje and Stefan Waldner will work closely together in order to ensure a smooth transition while supporting OMV Petrom’s Finance team in achieving their business objectives," according to an OMV Petrom press release.

Stephen Waldner, 40, has been the financial director of OMV Petrol Ofisi in Turkey since 2014. Before that, he worked in management consulting and investment banking, and led the Corporate Development and M&A Function for OMV Group.

OMV Petrom, which has been part of OMV group since 2004, has been led by Romanian CEO Mariana Gheorghe for more than ten years.

The group’s management includes another expat, Briton Neil Anthony Morgan, who is in charge of the Downstream department, and two Romanians: Gabriel Selischi, who is in charge of Upstream, and Lacramioara Diaconu-Pintea, who runs the Downstream Gas division.

OMV Petrom shareholders also elected the Supervisory Board for the next four years, which includes OMV CEO Reiner Seele, OMV CFO Florey Reinhard, Johann Pleininger, who runs OMV’s Upstream division, Manfred Leitner, the man in charge with OMV’s Downstream, Daniel Turnheim, another OMV official. The other four members are: Jochen Weise, a Senior Advisor of Allianz Capital Partners, Mark Mobius, executive chairman of Templeton Emerging Markets Group, and Romanians Radu-Spiridon Cojocaru and Mihai Busuioc, both representing the Romanian state.

OMV Petrom had a net profit of over RON 1 billion (EUR 230 million) in 2016, compared to losses in 2015. The group’s shareholders also approved the distribution of RON 850 million worth of dividends. The dividend per share is RON 0.015 and represents 4.67% of the current share price.

editor@romania-insider.com