Petronas expects 1,000 redundancies under group-wide revamp

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

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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