Wolfgang Ruttenstorfer

Wolfgang Ruttenstorfer (born October 15, 1950 in Vienna ) is a manager and former Austrian politician of the SPÖ . From 2002 to 2011 he was General Director of the Austrian mineral oil company OMV .

Life

Wolfgang Ruttenstorfer studied at the Vienna University of Economics and Business and started working for OMV in 1976. He is married and has three children.

Professional activities

OMV Group 1976 to 1996

Wolfgang Ruttenstorfer joined OMV in 1976. In 1985 he was given responsibility for planning and controlling OMV's strategy and in 1990 he came to head the Petroleum Products Sales division . In 1992 he succeeded Viktor Klima as CEO . He took on responsibility for finance , controlling and chemistry . From 1996 he was responsible for chemistry, exploration and production and the natural gas business.

State Secretary in the Federal Ministry of Finance from 1997 to 1999

From 1997 to 2000 Ruttenstorfer was State Secretary of the SPÖ in the Federal Ministry of Finance. In his role as State Secretary, Ruttenstorfer was largely responsible for the changeover to the euro , public administration and capital market reform. During this time, double price labeling was passed by law. On the Vienna Stock Exchange , the stock exchange tax was abolished by law and the ownership structure of the Vienna Stock Exchange was reformed by accepting issuers as owners. In the public service, global budgets were introduced by law for the first time and new reform ideas were launched with the administrative innovation program.

OMV Group 2000 to 2011

Ruttenstorfer was then deputy chairman of the board of management at OMV and was responsible for finances and natural gas. On January 1, 2002, he was appointed General Director and CEO as the successor to Richard Schenz . For about 10 years he was largely responsible for the reorientation and international positioning of the group. The former OMV boss declared the greatest success: “In 2001, OMV was an Austrian company with international activities; today it is an international group based in Vienna. 80 percent of the business now takes place abroad. ”In 2011 he was succeeded by Gerhard Roiss as CEO of OMV.

Most important measures & development steps

In 2002, a new strategy was approved by the Supervisory Board at the suggestion of the Management Board. The goal of the strategy was to double OMV's market position in exploration and production, refining and marketing, and natural gas and chemicals by 2008. In the Danube region, the market share of the Marketing division should be increased to 20%. The goals were achieved in 2005, three years ahead of schedule.

Under the CEO Ruttenstorfer, OMV made some major acquisitions as part of its growth strategy. In 2004, Petrom ( Romania ) was taken over by a majority. OMV's oil and gas reserves tripled as a result of the acquisition .

In 2006 OMV acquired 34% of Petrol Ofisi ( Turkey ). In 2008 OMV increased its stake to 39.8%. OMV has held 95.75% of PO since October 2010, the remaining 4.25% are in free float.

During the Ruttenstorfer era, oil production tripled, gas production sextupled and cash flow quadrupled. The market capitalization of the OMV has almost six-fold in the period and the annual operating profit has increased by four times.

Acquittal on insider allegation

In November 2010, the public prosecutor opened an investigation into insider trading against him. Shortly before the sale of OMV shares in the Hungarian MOL, he had bought shares worth over 600,000 euros. The shares were bought as part of a long-term incentive program and duly reported to the Financial Market Authority (FMA). After the sale, the value of his block of shares rose 3%. In public, however, he asserted that no sale was planned. The Supervisory Board also saw no criminal acts and, despite the investigations by the public prosecutor, stuck to Ruttenstorfer. On January 27, 2011, Ruttenstorfer was acquitted of the charge of insider trading. In January 2012 he was acquitted in the second instance at the Higher Regional Court of Vienna. The Independent Administrative Senate (UVS) Vienna also came to the conclusion in March 2012 that the OMV board members did not violate the ad hoc obligation when selling the MOL shares in 2009 and overturned the penalties of the financial market supervision against the OMV board members at the time on.

Current functions

Ruttenstorfer is chairman of the supervisory board at Vienna Insurance Group (VIG) and Erne Fittings GmbH (Schlins, Vorarlberg), deputy supervisory board chairman at Vienna Airport and supervisory board chairman at Telekom Austria and neovoltaic AG. He was a member of the Board of Directors of Roche from 2007 - 2011. AMIC Energy Management GmbH, AMIC Energy Holding GmbH (2013 -)

Publications

Martin Graf, Patrick Horvath, Wolfgang Ruttenstorfer (eds.), Powerlines. Energy policy development lines in Europe. New Academic Press, Vienna 2013.

Awards (excerpt)

• Large Silver Decoration on Ribbon for Services to the Republic of Austria (2000)
• Officer of the Star of Romania (2013)

Web links

Commons : Wolfgang Ruttenstorfer  - Collection of images, videos and audio files

• Wolfgang Ruttenstorfer on the website of the Austrian Parliament
• Wolfgang Ruttenstorfer in the Munzinger archive ( beginning of article freely accessible)

Individual evidence

1. ↑ "OMV Profile Wolfgang Ruttenstorfer" (omv.com on April 25, 2012)
2. ^ "Public service has a future" (OTS June 7, 1999)
3. ↑ "Ruttensdorfer for dual pricing" (OTS on March 13, 1998)
4. ↑ ^{a b} German top manager Rainer Seele becomes the new OMV boss . Article dated March 27, 2017, accessed June 6, 2018.
5. ^ "Buying OMV shares can never be a mistake" ( Memento from March 11, 2011 in the Internet Archive ) (Wirtschaftsblatt on March 9, 2011)
6. ↑ "OMV with an official statement on the Petrom takeover" (boerse-express.com on July 23, 2007)
7. ↑ "OMV continues to stock up in Turkey" ( Memento from February 9, 2008 in the Internet Archive ) (Wirtschaftsblatt on February 5, 2008)
8. ↑ "Go to where the oil can be found." (Diepresse.com on March 9, 2011)
9. ↑ "Ruttensdorfer over to Roiss" (OTS on March 30, 2011)
10. ↑ "Not suitable for speculation" (orf.at on November 17, 2010)
11. ^ "OMV encourages Ruttenstorfer" in the Wiener Zeitung of November 26, 2010, accessed on November 7, 2013.
12. ^ "Insider process: OMV boss Ruttenstorfer acquitted" (diepresse on January 27, 2011)
13. ^ "Insider acquittal for Ruttenstorfer legally binding" (diepresse on January 12, 2012)
14. ↑ "UVS Vienna: OMV did not violate ad hoc obligation with MOL deal"  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. (derboersianer.com on March 22, 2012)  
15. ↑ List of all decorations awarded by the Federal President for services to the Republic of Austria from 1952 (PDF file; 6.59 MB)