In memoriam


Budapest, 30 May 2018 – MOL Group announces with great sadness that György Mosonyi, Chairman of MOL’s Supervisory Board, has passed away at the age 69, after a long struggle with severe illness, which he tolerated with dignity.

György Mosonyi started his professional career at MOL’s predecessor, ÁFOR. He joined Shell International Petroleum Co.’s representative office in Hungary as an expert in 1974, and in 1986 he became Director of Commerce. Between 1994 and 1999, he was Chairman and CEO of Shell Hungary Rt. He was appointed during his tenure in 1997 Chairman of Shell’s Central and Eastern European Region.

György Mosonyi joined MOL in 1999 as CEO and a member of the Board of Directors. The largest company headquartered in Hungary emerged as a true multinational player during his tenure as CEO until 2011. After stepping down from his position as CEO, he continued to participate in MOL's life with great vigour, helming the Supervisory Board as Chairman until his death.

With his passing, MOL Group, the Hungarian business community and the region’s energy industry have all lost a prominent figure. Mr. Mosonyi was also Chairman of the Hungarian Chamber of Commerce and Industry and held various positions in the presidium of the Hungarian Joint Venture Association. He was elected to be a member of Magyar Telekom Plc’s Board of Directors in April 2012.


Eulogy from Chairman-CEO Zsolt Hernádi

​"Gyuri. Far from being disrespectful, everyone called him this way. After all, he was the CEO of the largest company of Hungary for many years. But they called him Gyuri out of love.

Wherever he went, whoever he had a talk with, he was beloved. He was beloved in spite of the fact that our industry, oil, is not known for being a lovely one. Nonetheless, he had the ability to make himself loved with his rich black hair, dense moustache and waggish smile. And not only in Hungary. Many years ago, when I met the CEO of Shell, his first question was "How is George?". I was glad to let him know about the many things we had accomplished together in MOL, and then he told me with enthusiasm what a great colleague Gyuri was in Shell.

Then came the disease, the incurable disease that he bore with dignity and unprecedented composure, just the way he lived his whole life. Even this January, he was still confident that he would be alright, getting better all the time. This composure, this constructive thinking and optimism and the accompanying modesty made Gyuri and his lifework peerless.

He started his career in Áfor, predecessor of MOL in 1972. Two years later, he joined Shell, where climbing the rank of echelon he became the regional Chief Executive Officer of the oil industry giant. This is a great career especially for one starting out from Central Europe! He gained a lot of experience and knowledge noteworthy even on the international level – all on his own.

He was then lured over to MOL in 1999. I remember János Csák, President of MOL of that time, describing me the kind of person we need as a CEO: he needs to have tremendous knowledge, international experience, excellent leadership qualities, vitality and an approach of a reformer. I wished him good luck saying he could hardly find such person at home. Then came Gyuri.

With his perseverance, freshness and courage, he started to put the largest company of the country on a new course. It did need great courage to buy oil companies in Slovakia and Croatia in the beginning of the 2000's. It needed courage to carry out a huge refinery development program at a time, when everybody else was eager to get rid of the "old rust". And he was courageous enough to have bridgeheads erected from Pakistan through Oman to Iraq and Kurdistan as a company from Hungary. His leadership was indispensable for MOL to become what it is today: the leading industry company of Central Europe.

Gyuri believed that we are home in Hungary. He believed that we can grow really big as a Hungarian company, with the headquarters in Hungary. And he believed that we can become a truly multinational company with the knowledge and the innovative spirit we have.

He was aware that to be successful we need credible corporate values and corporate culture. And we also need leadership culture that guides and motivates us and teaches us how to take responsibility. He considered the training of our managers and recruitment especially important. He was professionally unchallengeable, tireless and tough, and a person who never forgot about credibility, honesty and the need for dialogue even in the toughest moments. He was trustworthy to the utmost degree. "Decency has become my family heritage" – he once said.

He has left us for good now, but his work, his example and memory has left an indelible mark on our company. His example will remain with us for many years to get lessons and inspiration from. We are now saying farewell to one of the great figures who shaped the transition to market economy in Central Europe.

May you rest in peace, Gyuri!"


The Eulogy was originally published in Hungarian weekly, Figyelő.