Posted on 02 Mar 2016
It is unclear whether "positions' refers to the number of employees. As at November 2015, Petronas had 51,000 employees.
In a statement posted on its website, Petronas said it has selected a new leadership team following a strategic review of its business operating model for better efficiency, resilience and sustainability amid challenging times for the oil and gas industry.
The new leadership, together with the revamped high-level group organisational structure, was unveiled by Petronas president and group CEO Datuk Wan Zulkiflee Wan Ariffin at a gathering for employees yesterday.
The structure sees new appointments from within the organisation, taking effect from April 1 2016, and the departure of a few whose service contracts have come to an end.
The new leadership team includes executive vice-president & CEO, upstream, Datuk Mohd Anuar Taib; senior vice-president, project delivery & technology, Mazuin Ismail; vice-president, group health, safety, security & environment, Sharbini Suhaili; senior general manager, group strategic communications, Zahariah A. Rahman; and senior general manager, group internal audit, Syed Sheikh Syed Idrus Alhabshi.
The statement said the new structure is designed for a flatter, leaner and more efficient business operating model, and is part of deliberate, sequential measures that Petronas is undertaking to better navigate the organisation through tough external environments. It also 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.
Petronas said exhaustive efforts are on-going to redeploy affected employees. However, a separation exercise for these employees, as needed, is expected to be completed over the next six months.
The oil major which saw net earnings fall 56% from RM47.6 billion to RM20.8 billion for the financial year ended Dec 31, 2015, has undertaken measures to mitigate the effects of depressed oil prices. It said cash management and generation, cost efficiency and simplification as well as focused execution of projects are aimed at ensuring its immediate survival and competitiveness.
