KUALA LUMPUR: National oil company Petroliam Nasional Bhd (Petronas) may lay off about 1,000 staff whose positions will be redundant under the group’s transformation exercise.
In a statement, it said exhaustive efforts would be undertaken to first redeploy the 1,000 positions and will further embark on a separation exercise for these employees as needed which is expected to be completed over the next six months.
This marks the first major decision it had to make since the plummeting oil prices in June 2014.
Petronas said the new structure is a part of deliberate, sequential measures that Petronas is undertaking to better navigate the organisation through tough external environments.
"This 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.
"Consequently, this group-wide transformation is expected to result in redundancies of under 1,000 positions. Exhaustive efforts are on-going to re-deploy affected employees.
It also announced the recent appointment of Datuk Mohd Anuar Taib as the upstream executive vice president and chief executive officer, alongside Md Arif Mahmood and Datuk Manharlal Ratilal.
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
Senior Vice President, Corporate Strategy
Senior Vice President & Group General Counsel
Mohamad Rauff Nabi Bax
Senior Vice President, Group Human Resource Management
Datuk Raiha Azni Abdul Rahman
Vice President, Group Health, Safety, Security & Environment
Senior General Manager, Group Strategic Communications
Zahariah A. Rahman
Senior General Manager, Group Internal Audit
Syed Sheikh Syed Idrus Alhabshia