From R&D to CEO: A Career Steeped in Experience

Stern’s journey to the top began with a solid foundation in science and technology. He honed his skills at the Montanuniversität Leoben in Austria, laying the groundwork for a successful career. His early years at DuPont de Nemours exposed him to various facets of the industry, from research and development to sales and marketing. This diverse experience instilled in him a deep understanding of the intricate workings of the energy sector.

In 2007, Stern embarked on a defining chapter at Borealis, a leading provider of polyolefins, the building blocks of countless plastic products. He steadily climbed the corporate ladder, holding key positions in polyolefins and innovation & technology. Eventually, his leadership qualities and strategic acumen earned him the position of CEO in 2018. During his tenure at Borealis, Stern championed research and development, propelling the company towards sustainable solutions.

Steering OMV Towards a Sustainable Future

In 2021, Stern’s expertise and vision for a greener future attracted OMV. He joined the company as the Board Member for Chemicals and Materials, and soon after, the Supervisory Board recognized his leadership potential. Appointed as Chairman of the Executive Board and CEO, Stern shouldered the immense responsibility of steering OMV through a period of critical transformation.

OMV, a traditionally oil and gas-centric company, faced the pressing need to adapt to a world increasingly focused on sustainability. Stern, with his unwavering commitment to a greener future, embraced this challenge head-on. He outlined a bold vision for OMV, encapsulated in the company’s purpose statement: “Re-inventing essentials for sustainable living.” This powerful statement signified a paradigm shift, placing sustainability at the core of OMV’s operations.

Strategy 2030: A Roadmap for Transformation

To realize this vision, Stern spearheaded the development of Strategy 2030. This comprehensive roadmap outlines OMV’s ambitious goals for the coming decade. The strategy focuses on three key pillars:

• Responsible Production: OMV is committed to reducing its carbon footprint throughout its operations. This includes investments in renewable energy sources, energy efficiency measures, and carbon capture, utilization, and storage (CCUS) technologies.
• Circular Economy Solutions: Recognizing the finite nature of resources, OMV is actively pursuing a circular economy approach. This involves developing innovative solutions for recycling and reusing plastics and other materials, minimizing waste generation.
• Innovative Products & Services: OMV is dedicated to developing and providing innovative products and services that meet the evolving needs of customers in a sustainable manner. This includes biofuels, sustainable aviation fuels (SAF), and high-performance chemicals.

Leading by Example: Stern’s Impact on OMV

Stern’s leadership has demonstrably impacted OMV in several ways:

• Increased Focus on Renewables: OMV has significantly ramped up its investments in renewable energy sources such as wind and solar power. The company aims to become a major player in the renewables market, diversifying its energy portfolio.
• Circular Economy Initiatives: OMV is actively exploring and implementing circular economy solutions. This includes partnerships with recycling and waste management companies to develop closed-loop systems for plastics and other materials.
• Sustainable Product Development: OMV is investing in research and development to create innovative and sustainable products. This includes biofuels with lower carbon footprints and high-performance chemicals derived from renewable feedstocks.

Employee Engagement: Stern recognizes the importance of employee engagement in driving the sustainability transformation. He has fostered a culture of innovation and environmental responsibility within OMV, empowering employees to contribute to the company’s sustainability goals.