KUALA LUMPUR (Dec 20): Petroliam Nasional Bhd's (Petronas') executive vice president (EVP) and chief executive officer (CEO) of downstream business, Datuk Md Arif Mahmood, will be retiring from the national oil and gas company effective Jan 1, 2022, after 37 years of service.
This was revealed in filings by Petronas Chemicals Group Bhd (PetChem) and Petronas Dagangan Bhd (PetDag), which announced his impending resignation as chairman in the Petronas listed units from the start of next year, “due to retirement from Petronas Group with effect from Jan 1, 2022”.
In their respective filings, PetChem noted Md Arif’s resignation as its non-independent non-executive chairman on Dec 18, while PetDag noted the same on Dec 20, 2021.
Anuar Ahmad to helm PetDag, Abdul Rahim Hashim to chair PetChem; PetChem gets Mohd Yusri as new MD
His departure from PetDag will see Datuk Anuar Ahmad, currently the non-independent non-executive director in the company, be redesignated as its chairman.
Anuar, a 36-year O&G industry veteran who began his career with Petronas in 1977, was previously the EVP of gas and power business in Petronas, and the managing director (MD) and CEO of PetDag.
Meanwhile, PetChem announced that its non-independent non-executive director Datuk Dr Abdul Rahim Hashim will be redesignated as its new chairman.
Abdul Rahim has 32 years of industry experience, with previous appointments in Petronas such as the MD & CEO of Petronas Penapisan (Melaka) Sdn Bhd and Malaysian Refining Company Sdn Bhd, vice president (VP) of Group Human Resource Management Division, VP for Gas Business, and VP of Group Research & Technology Division, according to PetChem.
PetChem also redesignated Datuk Sazali Hamzah, currently PetChem's MD, as its non-independent and non-executive director, while Mohd Yusri Mohamed Yusof joins PetChem’s board as its newest member and MD.
According to PetChem, Yusri has more than 32 years of experience in the oil & gas industry with his last appointment within Petronas being the VP of the group’s Refining & Trading Division with previous stints as the head of manufacturing division of PetChem, and the CEO of Optimal Group of Companies and Ethylene Malaysia Sdn Bhd. Yusri is also currently a director of MISC Bhd, a position he has held since 2017.
All board appointments and reshuffle at PetDag and PetChem will take effect on Jan 1.
Shares in PetDag closed 10 sen or 0.51% higher at RM19.80, while PetChem slipped two sen or 0.23% to settle at RM8.78, giving the groups' market capitalisations of RM19.67 billion and RM70.24 billion respectively.