Christina Verchere announced that she will no longer be available for a possible new term at the helm of OMV Petrom

Christina Verchere, Chair of the Management Board and CEO of OMV Petrom, announced to the Supervisory Board on Friday that she would not be available for a possible new term. Her current term expires on April 16, 2027, while the company has not specified the reason for the decision or the name of a possible successor.

The announcement was sent to the Bucharest Stock Exchange. The election of the new Management Board members will be the responsibility of OMV Petrom’s Supervisory Board. Verchere has led the company since May 2018, following a more than two-decade career with the British group BP, where she held leadership positions in the United Kingdom, the United States, Canada and the Asia-Pacific region.

The change was announced before the start of gas production from the Neptun Deep project, developed jointly with Romgaz in the Black Sea. The first gas is expected to enter the National Transport System in the first half of 2027, with production expected to reach plateau levels by the end of the third quarter. The project has estimated recoverable reserves of approximately 100 billion cubic meters and involves investments of around four billion euros.