03 Jul 2020

Personnel change in MOL Group Downstream leadership

After prolific and very successful 17 years in leading MOL Group Downstream Ferenc Horváth has decided to step down as an Executive Vice President of Group Downstream and will also leave the Management Committee as of 15 July.

MOL Plc. (“MOL”) hereby notifies the market participants of the following:

After prolific and very successful 17 years in leading MOL Group Downstream Ferenc Horváth has decided to step down as an Executive Vice President of Group Downstream and will also leave the Management Committee as of 15 July. Ferenc will take on new responsibilities within MOL Group and commence the next chapter of his career as a Special Envoy to the Chairman focusing on further developing international stakeholder relations, talent management and corporate culture, utilizing his unique leadership and professional experience.

Chairman-CEO of MOL Group Zsolt Hernádi commented on this decision:

„It has been a fantastic period of 17 years working together with Ferenc. I personally would like to thank him for his services to the firm. His vast industry expertise, exemplary leadership and loyalty to MOL Group have been among the key drivers of MOL Group’s success in the last decades. I am very pleased that he stays with us as a special envoy. By sharing his knowledge, spreading his vision on corporate culture and managing stakeholders, Ferenc will continue to contribute to the success of our company in the future.”

Ferenc has been the Executive Vice President of MOL Downstream since 2011, and Executive Vice President of MOL Refining & Marketing since 2003. Under his leadership the integrated Downstream value chain was established and MOL achieved a leading position in the refining and petrochemical industry in Central Eastern Europe.

From 15 July 2020, Gabriel Szabó, currently serving as Senior Vice President of Group Logistics and CEO of Slovnaft will take over the role of Executive Vice President of Group Downstream. Gabriel Szabó will remain as member of the Management Committee.

As of 15 July, Ferenc Horváth will cease to be considered as a person discharging managerial responsibilities according to the EU Regulation No. 596/2014 on market abuse.