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New CEO to lead AutoWallis


AutoWallis has appointed a new chief executive officer with considerable capital market and management experience. Wallis and the automotive industry are both familiar for Gábor Ormosy, as he had previously worked as financial director at the Group, financial director at Wallis Autó Holding, and later undertook chief executive officer responsibilities as well.

Gábor Ormosy has been appointed chief executive officer by AutoWallis Plc., a company listed in the Standard category of the Budapest Stock Exchange. The expert with considerable experience in finance and corporate governance is tasked with helping to develop the long-term strategy of the regional automotive company, and to have its growth plans realized. As it is known, the shares of AutoWallis became listed at the BSE in February, and the management of the corporation is to develop its five-year strategy by May. In this, they expect to have the group double its revenue in this period, as compared to the HUF 70.2 billion revenue of last year (preliminary, non-consolidated data based on the Hungarian Act on Accounting). The company is constantly searching for those investment opportunities in Hungary, Eastern Europe, and the Balkan region, which could advance the realization of the designated objectives. In the course of implementing this strategy, AutoWallis may continue expanding by acquiring new brands and markets, as well as getting involved in new lines of business. Their medium-term plans include opening further vehicle distribution points and developing the existing dealership and service network in Hungary and in the region. The group is also looking into the opportunities resulting from the transformation of the industry, like the developments in the field of electric vehicles, the introduction of self-driving cars, as well as the strengthening of carsharing. Besides these developments, the opening of new sales channels could also provide new investment opportunities for AutoWallis. These objectives may be realized via acquisitions, the founding of new companies, and by expanding the activities of the existing ones. 

Gábor Ormosy is not new to the Wallis Group: building on his experience as a transaction and strategic consultant, he participated in the reorganization of the automotive branch first as financial director (from 2004), and later as the chief executive officer of the Wallis Autó Holding. Subsequently he undertook the position of financial director at the Wallis Group. He conducted his studies at the Corvinus University of Budapest and the Georgetown University in the USA. In 2006, he founded and became chief executive officer of MAG Zrt., a subsidiary of the Hungarian Development Bank responsible for the administration of the EU subsidies provided for small and medium-sized enterprises, and later he worked in executive positions at various companies, including the MKB Bank and the Veolia Group.