Image: OMV
Borealis announced this today, Friday. “Thomas Gangl is a board member with a wide range of experience at OMV, most recently as CEO of Borealis. I would like to thank him for the valuable contributions he has made to the OMV Group over the past two decades,” said OMV Board Director Daniela Vlad , who is also chairwoman of the supervisory board at Borealis, in a press release.
The supervisory board and Gangl mutually agreed to terminate the mandate and the associated employment contract on June 30, 2024.
Gangl is considered an OMV veteran; he was a board member of the oil and gas company from 2019 to 2021 and has been Borealis boss since April 2021.
Dissonances with the OMV boss?
The reason for the departure is apparently conflicts between OMV boss Alfred Stern and Gangl. There is said to be dissonance regarding delays and cost overruns.
The decisive factor was the failure to discharge last spring by the Borealis supervisory board, which was mostly appointed by the parent company OMV. “That showed me who I can rely on and who I can’t rely on,” Gangl told the “Standard” about his upcoming departure.
Gangl had a four-year contract that would have expired at the end of May next year – with an extension option until summer 2028.
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