The OMV Committees

Apart from the plenary Supervisory Board 5 committees are set up.

Presidential and Nomination Committee:

This committee is responsible for approvals expressly delegated to it by the plenary Board, within predefined limits. It also discusses succession planning for the Executive Board and submits to the general shareholders meeting proposals for Supervisory Board assignments. Finally the committee is authorized to decide in urgent cases.

Members:

Feldmann (Chairman), Hlawati (Deputy Chairwoman), Salmeen (Deputy Chairman), Al Zaabi, Auer, Redlich

Audit Committee:

Among other things, the Audit Committee is responsible for drawing up the accounts, and for valuations, provisions, risk management policies, management letters and the internal audit program, as well as reviewing the results of audits and making recommendations to the Supervisory Board, in cooperation with the auditors and Corporate Internal Audit. The audit committee has one financial expert.

Members:

Deuring (Chairwoman), Stadler (Deputy Chairwoman), Al Zaabi (Deputy Chairman), Stajic, NN (vacant), Feldmann, Schorna, Auer, Bunderla

Portfolio and Project Committee:

This committee discusses major projects with the Executive Board and approves individual cases after explicit authorization rendered by the Supervisory Board.

Members:

Renard (Chairman), Stajic (Deputy Chairman), Salmeen (Deputy Chairman), Al Zaabi, NN (vacant), Lammers, Schachenhofer, Auer, Redlich

Sustainability and Transformation Committee:

The purpose of the Sustainability and Transformation Committee is to support the company's Supervisory Board in reviewing and monitoring OMV's strategy with regard to sustainability, ESG related standards and performance as well as processes and specifically performance in HSSE (health, safety, security, the environment) and, in particular, climate change. Furthermore, the Committee serves to support and oversee the transformation process towards a more sustainable business model, including the cultural integration of strategically significant acquisitions.

Members:

NN (vacant, Chairman), Renard (Deputy Chairman), Salmeen, Stajic, Stadler, Lammers, Schachenhofer, Schorna, Bunderla

Remuneration Committee:

This committee deals with all matters concerning the remuneration of the Executive Board members.

Members:

Feldmann (Chairman), Hlawati (Deputy Chairwoman), Salmeen (Deputy Chairman), Stadler, Deuring

Functioning and Organization of the Committees (Extract of the Internal Rules for the Supervisory Board) (PDF, 303,0 KB)

A self-assessment of the Supervisory Board is performed on an annual basis. In particular, the results of the assessment in 2020 emphasized the importance of sustainability as integral part of the strategy and the importance of having the right competencies and market oversight with regard to developments and perspectives in the area of sustainability. A Sustainability and Transformation Committee was established in Q4 2021. The self-assessment 2021 included questions on the weight of sustainability in the Supervisory Board’s discussions and decisions. The importance of sustainability/ESG and climate issues was stressed even more in the results, as well as the need to tackle the challenges of the climate change and the energy transition, by leveraging the work of the new Committee as well as further increasing the expertise in the area of sustainability, innovation and climate change – by means of trainings as well as by considering sustainability /transformation skills when nominating new members for the Supervisory Board of OMV AG (e.g. Jean-Baptiste Renard who accompanied the transformation of Neste as non-executive director).

Organization & Responsibilities