Final results of 2009 ‘Top Companies for Leaders’ Global Study announced – MOL is the first Hungarian company to receive special recognition

Eight Hungarian companies that are increasingly recognised as top players in the field of leadership development and talent management were assessed in the study. Of Hungarian companies, MOL Plc. received special recognition among the best regional companies.

The European list is part of the ‘Top Companies for Leaders’ global study that covered 537 companies from around the globe. The professional jury reviewed practices of 87 European companies. The study focused on how individual companies select and develop their leaders and also studied the relationship between leadership practices and business results.

MOL headquartered in Budapest was awarded for the transposition of leadership practices on a global scale throughout the MOL Group as a whole. “Continual leadership development constitutes an inherent part of everyday operations, it is not an ad hoc internal campaign” – says László Szőcs, Vice President of MOL Group Human Resources. “Our leadership programs are pragmatic, relevant and consistent with business goals.” By awarding this special recognition, the jury recognised that MOL identified the areas for improvement and intend to find honest solutions to address them. “It is clear that our HR strategy cannot be implemented at MOL Group level without considering cultural differences. Practices proven and tested in Hungary cannot be introduced as such to a subsidiary located in a remote country” – notes László Szőcs. The MOL Group operates in Europe, in the Middle East, Africa and CIS countries and it employs more than 33,000 people worldwide.

In partnership with FORTUNE and The RBL Group, Hewitt Associates developed the most comprehensive study of leadership practices. Participation was free of charge and open to all types of state-owned and private organisations, irrespective of their size (headcount and sales revenue) and location (Asia, Pacific, Europe, Latin-America, North-America). This was the first time that Hungary joined this initiative with the participation of eight companies. This study has been conducted every other year since 2001.

About Hewitt Associates

Hewitt Associates (NYSE: HEW) provides leading organisations around the world with expert human resources consulting and outsourcing solutions to help them anticipate and solve their most complex benefits, talent, and related financial challenges. Hewitt works with companies to design, implement, communicate, and administer a wide range of human resources, retirement, investment management, health care, compensation, and talent management strategies. With a history of exceptional client service since 1940, Hewitt has offices in more than 30 countries and employs approximately 23,000 associates who are helping make the world a better place to work. For more information, please visit www.hewitt.com.

About MOL Group

MOL is a leading international, integrated and independent oil and gas company, headquartered in Budapest, Hungary. It has operations in EMEA and the CIS member states and it employs over 34.000 employees worldwide. MOL owns 5 highly complex refineries in Hungary, Slovakia, Croatia and Italy with a refinery capacity of 23.5 mtpa and according to Wood Mackenzie global survey, the refineries in Hungary and in Slovakia are the most efficient refineries in Europe. MOL Group operates over 1600 filling stations in Europe and a more than 5,500 km long high pressure natural gas pipeline network in Hungary. MOL is active in regional gas transmission and trading. MOL currently established an underground gas storage with a unique strategic mobile capacity of 1,2 bcm and 0,7 bcm commercial capacities. In petrochemicals MOL Group is among the top ten polymer market players in Europe.