PETALING JAYA: Petronas today announced the start of its group-wide transformation which it said may result in nearly 1,000 positions becoming redundant.
In a statement published on the company’s official website, Petronas said the transformation was geared towards making it “more resilient and focused to thrive both in the current and future industry landscapes”.
This came following the company’s reported net loss of RM2.96 billion for the October-December period, which it attributed to impairment of assets caused by low oil prices.
According to the statement, exhaustive efforts were on-going to “re-deploy” affected employees and it would embark on a separation exercise, which it said was expected to be completed over the next six months.
“Petronas would like to thank its leaders and employees who will no longer continue in the organisation’s journey for their invaluable contribution and wishes them every success for the future.”
It also announced a new leadership team following a strategic review of its business operating model meant for better business efficiency, resilience and sustainability amid a challenging time for the oil and gas industry.
The leadership line-up, as well as Petronas’ new high-level group organisational structure, were unveiled by its president and group chief executive officer, , at a gathering for its employees today.
“The structure sees new appointments from within the organisation taking effect from April 1 and the departure of some leaders whose service contracts have come to an end.”
The new leadership team comprises the following:
President and Group Chief Executive Officer
Wan Zulkiflee Wan Ariffin
Executive Vice-President and Chief Executive Officer, Upstream
Mohd Anuar Taib
Executive Vice-President and Chief Executive Officer, Downstream
Md Arif Mahmood
Executive Vice-President and Group Chief Financial Officer
Senior Vice-President, Project Delivery and Technology
Senior Vice-President, Corporate Strategy
Senior Vice-President and Group General Counsel
Mohamad Rauff Nabi Bax
Senior Vice-President, Group Human Resource Management
Raiha Azni Abdul Rahman
Vice-President, Group Health, Safety, Security and Environment
Senior General Manager, Group Strategic Communications
Zahariah A. Rahman
Senior General Manager, Group Internal Audit
Syed Sheikh Syed Idrus Alhabshi