Petronas to lay off 1,000 employees within 6 months

Petronas announced its new leadership team following a strategic review of its business operating model for better business efficiency, resilience and sustainability amidst challenging times for the oil and gas industry.

In a statement released on its website, the company revealed its leadership lineup, new high-level group organisational structure, unveiled by PETRONAS' President and Group Chief Executive Officer Datuk Wan Zulkiflee Wan Ariffin at an employees gathering, today.

The structure sees new appointments within the organisation, taking effect on April 1 and the departure of some leaders whose service contracts have expired.

This group wide transformation is expected to result in redundancies of under 1,000 positions.

The new leadership comprises:

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 Datuk 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

The new structure - designed for flatter, leaner and more efficient business operating model - is part of a 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.

Exhaustive efforts are ongoing to redeploy affected employees.

The statement also stated that the company will further embark on a separation exercise for these employees as needed, which is expected to be completed over the next six months.

PETRONAS thanks its leaders and employees whom will no longer continue in the organisation's journey for their invaluable contribution and wishes them every success for the future.