MOL GROUP Annual Report

More documents

Recommendations

Info

1.2.4.1. Mr. Zsolt Hernádi (50)Chairman of the Board of Directors since 7th July, 2000, Chairman & Chief Executive Officer since 11th June, 2001, memberof the Board since 24th February, 1999.Member of the Corporate Governance and Remuneration Committee.Between 1989-1994 he occupied various posts at the Kereskedelmi és Hitelbank Plc., and between 1992-1994 he was itsDeputy General Manager. He was CEO of the Central Bank of Hungarian Savings Cooperatives between 1994 and 2001, anda member of its Board of Directors between 1994 and 2002. Between 1995 and 2001, Mr. Hernádi was Board member of theHungarian Banking Association. Since 2001, he has been a member of the European Round Table of Industrials.Since September, 2009 he has become the honorary citizen of the Corvinus University of Budapest.2. Mr. György Mosonyi (61)Group CEO and member of the Board of Directors since 19th July, 1999.Chairman of the Sustainable Development Committee.Chairman of the Board of Directors of TVK Plc.From 1974 onwards, he worked for the Hungarian Agency of Shell International Petroleum Co. and from 1986 he held theposition of commercial director. In 1991 he worked at Shell headquarters, London. Between 1992-93 he was managingdirector of Shell-Interag Ltd and between 1994-1999 Chairman and Chief Executive Officer of Shell Hungary Rt. Duringthis period he became Chairman of Shell’s Central & East European Region and CEO of Shell Czech Republic in 1998. Vicechairmanof the Hungarian Chamber of Commerce & Industry., vice president of Confederation of Hungarian Employers andIndustrialists.5.3.6.3. Mr. József Molnár (55)Member of the Board of Directors since 12th October 2007.Group Chief Financial Officer since 3rd September, 2004.From 1978 to 2001, Mr Molnar held various management positions at BorsodChem Plc, including Head of Pricing Departmentfrom 1982 to 1987, and Head of Controlling Department from 1987 to 1991. Between 1991 and 2001, as Chief FinancialOfficer and first deputy to the CEO, he contributed to the crisis management and reorganisation of the company, and laterto the creation of its vision, and subsequent privatisation. He played a key role in the stock exchange listing of BorsodChemshares. He was CEO of TVK between 2001 and 2003, and MOL Group Planning & Controlling Director until his appointmentas Group CFO in September 2004. Between 2004 and 2008 he was a Board member of SLOVNAFT a. s. Since April 2001, hehas been a Board member of TVK, and he is also a member of INA Supervisory and Audit Committee since April 2010.ExecutiveBoardExecutive Board7.4. Mr. Zoltán Áldott (42)Exploration and Production Executive Vice President since September, 2004.Between 1990 and 1991, he was an associate at Creditum Financial Consulting Ltd., and then, between 1992 and 1995, heheld various positions at Eurocorp Financial Consulting Ltd. From 1995 to 1997, he was the Manager of MOL PrivatizationDepartment, and from 1997 until 1999 Director of Capital Markets. From 1999, Mr. Áldott served as Director of Strategy &Business Development. From November 2000, he acted as Chief Strategy Officer and then, since June 2001, as Group ChiefStrategy Officer. Since September 2004, he has been the Executive Vice President of MOL Exploration & Production Divisionand together with this position from 1st April 2010 he has been the President of the Management Board of INA d.d. He is alsoa member of the Board of Directors of the Budapest Stock Exchange.5. Mr. Ferenc Horváth (50)Executive Vice President of MOL Refining & Marketing Division, a unit integrated with SLOVNAFT since November 2003.He is the Chairman of the Board of Directors of IES Mantua since November, 2007 and he has member of the Board ofDirectors of SLOVNAFT since May, 2007.From 1984 until 1991, he worked for Mineralimpex, the Hungarian Foreign Trade Company for Oil & Mining Products, inthe fields of crude oil and natural gas imports, and crude oil product exports. Between 1991 and 1997, he was ManagingDirector of Allcom Trading Co., the Hungarian Mineralimpex-Phibro Energy joint-venture, dealing with the European tradingof crude oil and crude oil products. He joined MOL Plc in 1998 as Director of LPG Business Unit, and worked from January2001 onwards as Sales Director, being responsible for the sales of MOL’s entire product range (petrol, diesel, petroleumproducts, bitumen, LPG, lubricants, and so on). In 2002, he became Commercial Director, sales activities having broadenedto encompass the supply of crude oil and raw materials necessary for the refining of crude oil.Executive Board230 MOL Group annual report 2010 231
6. Mr. József Simola (44)Corporate Centre Executive Vice President since April 2006.From 1991 to 1992 he was employed as an SAP expert at General Electric – Tungsram. He subsequently joined ArthurAndersen as an auditor and consultant. In 1996 he moved on to the Boston Consulting Group, where he held variousmanagerial positions in Hungary, Germany and Australia.Mr. Simola joined MOL Plc. in 2003 and has been a member of the Executive Board since April 2006. His current positionsare: Chairman of the Supervisory Board of SLOVNAFT a. s., Member of the Supervisory Board of INA d.d, and Member ofthe Board of Directors of IES S.p.A.7. Mr. Oszkár Világi (47)Chairman of the Board of Directors and CEO of SLOVNAFT.Mr. Világi graduated from the Faculty of Law at the Commenius University in Bratislava in 1985 and achieved the academictitle D.C.L. Since 1992 he is the member of the Slovak Bar Association. During 1990-1992 he was the member of theCzechoslovak Parliament in Prague. From 1996 he was performing in governing bodies of various Slovak companies includingformer Poľnobanka, Slovenská poisťovňa and Slovak Railways (ŽSR). He has been the legal advisor of several foreign investorsin big restructuring projects of Slovak industry (US Steel, France Telecom, OTP, MOL), since 2002 he was member of theteam preparing strategic partnership and integration of SLOVNAFT and MOL. Before becoming a member of the Board ofDirectors in SLOVNAFT in 2005 he was a member of its Supervisory Board. In March 2006 Mr. Világi was appointed CEO ofSLOVNAFT. In April 2010 he became the Member of the Executive Board of MOL Group.Executive Board232 MOL Group annual report 2010 233
Page 1 and 2:
MOL GROuP ANNuAL REPORT 2010MOL GRO
Page 4 and 5:
Key financial and operating dataKey
Page 6 and 7:
Overview of the environmentWorld ec
Page 8 and 9:
Exploration and ProductionHIGHLIGHT
Page 10 and 11:
OTHER RESuLTSSustainable developmen
Page 12 and 13:
upstreaPortfolio EleentsRuSSIASPE 2
Page 14 and 15:
ize MOL and INA sales channels in C
Page 16 and 17:
PetrochemicalsPetrochemicalsPetroch
Page 18 and 19:
Downstream portfolioelementsDomesti
Page 20 and 21:
The most important events of 2010Th
Page 22 and 23:
Gas and PowerGas and PowerThe Gas a
Page 24 and 25:
Financial and Operational Performan
Page 26 and 27:
1.) We have audited the accompanyin
Page 28 and 29:
Moderating growth in world economy,
Page 30 and 31:
Higher personal expenses due to ful
Page 32 and 33:
Unit OPEX slightly increasedStronge
Page 34 and 35:
…and in SPE P1 reserves2010 was t
Page 36 and 37:
In Slovakia sales volumes recovered
Page 38 and 39:
has been granted an IPPC and a Buil
Page 40 and 41:
Refining & MarketingCAPEX down by 5
Page 42 and 43:
INDEPENDENT AuDITOR’S REPORTMOL H
Page 44 and 45:
Consolidated balance sheet31 Decemb
Page 46 and 47:
Consolidated cash flow statement31
Page 48 and 49:
Joint venturesA joint venture is a
Page 50 and 51:
vi) HedgingFor the purpose of hedge
Page 52 and 53:
off. Upon determination of economic
Page 54 and 55:
At each balance sheet date, the Com
Page 56 and 57:
IAS 1 Presentation of Financial Sta
Page 58 and 59:
Exploration costsTransfers from exp
Page 60 and 61:
6 Subsidiaries and jointly controll
Page 62 and 63:
The purchase price allocation for t
Page 64 and 65:
10 Investments in associated compan
Page 66 and 67: 15 Other current assets16 Cash and
Page 68 and 69: Changes in the number of ordinary,
Page 70 and 71: The following table summarises the
Page 72 and 73: 28 Financial (income) / expense30 I
Page 75 and 76: The Group may use cross currency sw
Page 77 and 78: Capital managementThe primary objec
Page 79 and 80: Operating leasesOperating lease lia
Page 81 and 82: 37 Notes to the consolidated statem
Page 83 and 84: Historical SummaryHistorical Summar
Page 85 and 86: Gross reserves (according to SPE ru
Page 87 and 88: Petrochmical production (kt) 2005 2
Page 89 and 90: InterviewwithGyörgy MosonyiThe str
Page 91 and 92: Objective Result Fulfillment of the
Page 93 and 94: effluents. We found that the persis
Page 95 and 96: The main programme elements are Ext
Page 97 and 98: Employee engagementWe conduct a Gro
Page 99 and 100: Ethical notifications received and
Page 101 and 102: 4 Sustainability data (Performance
Page 103 and 104: 5 Notes on Non-Financial Reporting5
Page 105 and 106: 6 Assurance statements6.1 Independe
Page 107 and 108: CorporateCorporate GovernanceCorpor
Page 109 and 110: The Board of Directors prepares a f
Page 111 and 112: The chairman of the Supervisory Boa
Page 113 and 114: The main role of Financial Risk Man
Page 115: 7.10.11.8.9.7. Mr. József Molnár
Page 119 and 120: 7.Mr. József Kohán (59)Member of
Page 121 and 122: Ownership Structure31.12.2009 31.12
Page 123 and 124: GlossaryAverage production costTota
Page 125 and 126: Putting into productionAccomplishme
Page 127 and 128: Content tableTopic of interestCover
Page 129: Statementresponsibilityofundersigne
show all

MOL GROUP Annual Report

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?