Business

OMV appoints MOL executive as new board member

OMV (OMVV.VI) is to expand its board with the appointment of Berislav Gaso as new executive board member responsible for energy starting March 1, 2023, the oil and gas firm said in a statement released on Wednesday.

Finance chief Reinhard Florey will assume responsibility for the energy segment on an interim basis from Jan. 1 until Gaso’s appointment comes into effect, it added.

Gaso, the current executive vice president for exploration and production at Hungary’s MOL Group (MOLB.BU), will head one of OMV’s new segments as part of a reshuffle announced earlier this month.

In a separate press release, the Hungarian oil company said Gaso would step down from his role at the firm as of Feb. 28 and that a successor would be nominated in due time.

The focus of the new energy segment “will increasingly be on renewable energies such as geothermal and tapping subsurface capabilities to develop a carbon capture solutions business,” Chairman of the supervisory board Mark Garrett said.

The move is part of OMV’s strategy to reduce oil and gas production by 20% by 2030 and to become a net-zero emissions company by no later than 2050.