By YAP LENG KUEN (lengkuen@thestar.com.my)
PETALING JAYA: Datuk Shamsul Azhar Abbas, the former managing director of Malaysian International Shipping Corp Bhd (MISC), is believed to be the frontrunner for the post of CEO of national oil corporation Petroliam Nasional Bhd (Petronas).
“He remains the frontrunner but the Prime Minister (who met all three internal candidates last week) has still to make a formal announcement,’’ a source told StarBiz yesterday.
In a report yesterday, the Singapore Business Times said the current president and CEO Tan Sri Hassan Marican’s replacement (should he not be reappointed) was likely to be Shamsul, 57, who retired in January last year from MISC, a Petronas subsidiary and one of the world’s largest oil and gas shippers.
Hassan’s contract ends next week and speculation is gathering steam on whether he would be reappointed to helm Petronas, Malaysia’s only Fortune 500 company that he has headed since 1995.
“For the sake of continuity and for planning purposes, the reappointment of a chief executive of an important Malaysian government-linked company is generally announced way before his contract expires,’’ BT noted.
It is believed, according to sources, that besides considering the post of CEO, Datuk Seri Najib Razak is also considering whether to fill the chairman’s position immediately or later.
Hassan is the acting chairman to the Petronas board, a position he has held since the sudden demise of former chairman Tan Sri Azizan Zainal Abidin in 2004.
Among the senior positions held in Petronas, Shamsul had been vice-president in the petrochemical, oil exploration and production, as well as logistics and maritime businesses.
Since he joined Petronas in 1975, Shamsul had served as executive assistant to Azizan.
The three potential successors that are currently being talked about are Shamsul, Datuk Anuar Ahmad (Petronas Dagangan Bhd chairman) and Datuk Wan Zulkiflee Wan Ariffin (former managing director/CEO of Petronas Gas Bhd from 2003-2007).
Both Anuar, currently vice-president of human resources management, and Wan Zulkiflee, currently vice-president of the gas business, are members of the Petronas board.
Anuar joined Petronas in 1977 and had been a member of the management committee since 1998, having served as head of its international marketing and corporate planning units. Wan Zulkiflee joined Petronas in 1983 as a process engineer and had served as executive assistant to the president.
The Singapore BT noted that under the late Azizan’s leadership, Petronas had transformed itself into a respected global energy player much “copied” by other national oil corporations.
It contributes 45% of government revenue. Last year, Petronas reported RM52.5bil in profit on revenue of RM264.2bil, making it Malaysia’s most profitable company.
“And it is something of an irony that Petronas’ international debt ratings are slightly higher than the Malaysian sovereign,’’ the report said.
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