Romanian chemical group appoints former OMV Petrom manager as CEO

Chimcomplex, the biggest chemical group in Romania, controlled by local businessman Stefan Vuza, appointed Tivadar Runtag – a manager with broad experience in the downstream petrochemical industry, as CEO, the company announced in a press release sent to the Bucharest Stock Exchange, News.ro reported.

Tivadar Runtag thus replaced Stefan Vuza, who previously served as the group’s CEO.

The move comes in a key moment for the group, after Chimcomplex took over the core assets of bankrupt Oltchim chemical complex in the autumn of 2018, and is working on merging the operations.

Chimcomplex is still facing financial difficulties, Vuza said in his negotiations with the trade unions that are asking for a wage hike. He claimed that the complex is in the loss area because of the adverse circumstances on the market.

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