KUALA LUMPUR (Nov 29): Sapura Energy Bhd (KL:SAPNRG) announced on Friday the impending departure of its chairman Datuk Mohammad Azlan Abdullah and chief executive officer Datuk Mohd Anuar Taib.
Azlan will step down from his position on Jan 31, 2025, due to "other personal commitments", according to the oil and gas engineering firm’s bourse filing.
Azlan was appointed to Sapura Energy’s board in October 2019 and promoted to chairman in May 2022.
Azlan has been on a "leave of absence" from Sapura Energy since June 26 this year. At the time, the company said the leave was to allow him to focus on ongoing investigations by the Malaysian Anti-Corruption Commission (MACC) concerning a matter unrelated to the firm.
According to Sapura Energy’s website, Azlan is also currently the group CEO of highway concessionaire Projek Lintasan Kota Holdings Sdn Bhd, also known as Prolintas.
It was reported in June that MACC had arrested the CEO of a highway concessionaire in the Klang Valley, along with seven others, as part of an investigation into alleged bribery related to two highway projects worth RM1.67 billion.
Prolintas had said it was "aware that our personnel have been remanded by the MACC to assist in an ongoing investigation relating to a construction case".
Meanwhile, Anuar will step down from his role as CEO and executive director on Dec 31, 2024, after serving three years in the position since March 2021, to pursue "personal endeavours".
In a separate statement, Sapura Energy announced the redesignation of interim chairman Shahin Farouque Jammal Ahmad to group chairman, while SapuraOMV Upstream CEO Muhammad Zamri Jusoh will take over as group CEO.
Sapura Energy has also appointed Mohamad Nasri Mehat as officer-in-charge in the interim, until Zamri’s tenure begins on March 1 next year. Mohamad Nasri is currently the CEO of operations and maintenance and senior vice president of group quality, health, safety, and environment.
“We wish to extend our deepest gratitude to Datuk Azlan and Datuk Anuar for their exceptional service and wish them the very best in their future endeavours,” said Shahin.
He added that Sapura Energy’s existing business plans and restructuring efforts will continue to be executed under the new leadership.
Sapura Energy's current largest shareholder is Permodalan Nasional Bhd’s unit trust fund Amanah Saham Bumiputera (ASB), which holds a 36.9% stake.
Sapura Holdings Sdn Bhd, its former controlling shareholder, owns an 11.25% stake in the firm.
Shares in Sapura Energy last traded at four sen, giving it a market capitalisation of RM735 million.