Serbia’s Naftna Industrija Says Ruttenstorfer Joins Board

Naftna Industrija Srbije AD (NIIS), a Serbian oil company controlled by Russia’s OAO Gazprom Neft (GAZP), said Wolfgang Ruttenstorfer, the former chief of Austria’s OMV AG (OMV), has joined its management board as an independent member.

He will help with the development of corporate management and also “ensure greater transparency in the work of executive bodies,” the Belgrade-based company said in an e-mailed statement. Ruttenstorfer served as Austria’s deputy finance minister from 1997 to 1999 and led OMV from 2002 until March last year.

To contact the reporters on this story: Misha Savic in Belgrade at msavic2@bloomberg.net; Ladka Bauerova at lbauerova@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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