The management landscape in the Romanian petroleum business has changed from the ground up in less than three years, marking the conclusion of the most dramatic experience of an industry regarded a strategic sector in Romania since 1990.
Petrom’s privatisation at the hands of OMV; Shell’s decision to sell its Romanian filling station network; and the management changes made by multinationals active on the petrol station market: all have left their visible marks, especially at top management levels.
Agip (Italy), Petrom, Rompetrol, MOL (Hungary), and Shell have all had new managers installed in the last 16 months. There were also recent changes made at OMV Romania.
Agip Romania, the local branch of the petroleum giant Eni, got a new chairman this month in the form of Paolo Manza, who is replacing another Italian manager, Antonio Cambiotti, after he completed his four year term and successfully rid the company of losses.
Petrom, Romania’s largest petroleum company, got a taste of what a takeover feels like following acquisition by OMV. The Austrian company replaced the company’s management in mid January. The new team includes Tamas Mayer, who was in charge of Petrom’s sales operations and in effect runs the largest network of filling stations in Romania of over 600. Upon taking up his position, he announced a new fuel pricing policy based on international petroleum prices and the domestic market.
Gheorghe Constantinescu retained his position as Petrom’s CEO, though his duties were reduced. The key position in the new management team is now held by Austrian Werner Schinhan. He is the new deputy chief executive and in charge of the treasury, corporate division, corporate development and petrochemistry.
The acquisition by MOL of Shell’s entire filling station network in Romania resulted in the third leading petroleum corporation in the world disappearing from the market. Sorina Baltatu, Shell Romania SRL’s chief executive, is now overseeing the transfer of the network to MOL, which is close to completion. Her position will soon cease to exist, sources close to the business say.
adrian.mirsanu@zf.ro