Petronas president and CEO Datuk Wan Zulkiflee Wan Ariffin said: "Tough times are here to stay."
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) expects its group-wide transformation to result in redundancies of under 1,000 positions.
The national oil corporation said exhaustive efforts are on-going to re-deploy affected employees.
“Petronas will further embark on a separation exercise for these employees as needed, which is expected to be completed over the next six months,” it said in a statement.
Petronas also announced its new leadership team, following a strategic review of its business operating model for better business efficiency, resilience and sustainability amidst a challenging time for the oil and gas industry.
Petronas president and group chief executive officer, Datuk Wan Zulkiflee Wan Ariffin unveiled the leadership line-up, together with the new high-level group organisational structure, at a gathering for its employees on Tuesday.
The structure sees new appointments from within the organisation, taking effect from April 1, 2016, and the departure of some leaders whose service contracts have come to an end.
Petronas said the new structure, aimed at a flatter, leaner and more efficient business operating model, was to enable Petronas to better navigate the organisation through tough external environments.
“It marks the start of a total group-wide transformation geared towards making it more resilient and focused to thrive both in the current and future industry landscapes,” it said.
The new leadership team comprises the following:
President & Group Chief Executive Officer
Datuk Wan Zulkiflee Wan Ariffin
Executive Vice President & Chief Executive Officer, Upstream
Datuk Mohd Anuar Taib
Executive Vice President & Chief Executive Officer, Downstream
Md Arif Mahmood
Executive Vice President & Group Chief Financial Officer
Datuk Manharlal Ratilal
Senior Vice President, Project Delivery & Technology
Mazuin Ismail
Senior Vice President, Corporate Strategy
Adif Zulkifli
Senior Vice President & Group General Counsel
Mohamad Rauff Nabi Bax
Senior Vice President, Group Human Resource Management
Dato’ Raiha Azni Abdul Rahman
Vice President, Group Health, Safety, Security & Environment
Sharbini Suhaili
Senior General Manager, Group Strategic Communications
Zahariah A. Rahman
Senior General Manager, Group Internal Audit
Syed Sheikh Syed Idrus Alhabshi
