KUALA LUMPUR (Oct 2): PETRONAS Chemicals Group Bhd (KL:PCHEM) announced on Friday that its chief executive officer Mazuin Ismail will retire effective Jan 1, 2027.

Izwan Ismail, 51, has been appointed to replace him, according to a filing with Bursa Malaysia.

Mazuin, 58, who also serves as the company’s managing director, assumed the role in Jan 2024. He has spent his entire 35‑year career within the PETRONAS Group.

According to the PETRONAS Chemicals’ 2025 annual report, Mazuin has received remuneration of RM2.15 million during the year and he has no direct stake in the company.

Izwan brings over 29 years of experience spanning finance, corporate planning, strategy, commercial management, operations and technology.

Most recently, Izwan served as vice-president, group technology and commercialisation since October 2024, where he led PETRONAS’ transformation of its artificial intelligence (AI) and digital ecosystem, alongside its broader research and development initiatives.

Izwan also has taken on several senior roles within the PETRONAS Group, including president and CEO of PETRONAS Energy Canada Ltd and a few other key roles.

In terms of education, Izwan is a master graduate from the Harvard Business School. He is also a fellow of the Chartered Accountants Australia and New Zealand and a member of the Malaysian Institute of Certified Public Accountants (MICPA) as well as the Malaysian Institute of Accountants (MIA).

PETRONAS Chemicals shares closed eight sen or 1.94% higher at RM4.21 on Friday, valuing the company at RM33.7 billion.