Kuala Lumpur – PETRONAS Chairman Tan Sri Ahmad Nizam Salleh will be retiring from the company and its board after having served his three-year contractual tenure from August 1, 2018 to July 31, 2021.
Ahmad Nizam has been appointed as Pelaburan Hartanah Berhad chairman, according to the Prime Minister’s Office..
Upon his retirement, Tan Sri Ahmad Nizam will assume the role of Chairman in Pelaburan Hartanah Bhd. He remains as Chairman of the KLCC Group of Companies, which includes the KLCC Stapled Group that comprises KLCC Property Holdings Bhd and KLCC Real Estate Investment Trust (KLCC REIT).
Tan Sri Ahmad Nizam will pass the PETRONAS chairmanship baton to Tan Sri Mohd Bakke Salleh. The latter’s appointment was announced by the Prime Minister TS Muhyiddin Yassin earlier today.
Tan Sri Mohd Bakke currently serves the Company as an independent director as well as the Chairman of its Risk Committee and a Member of its Audit Committee. His appointment as PETRONAS Chairman takes effect from August 1, 2021.
Mohd Bakke Salleh has resigned as chairman of Telekom Malaysia Bhd (TM) and will step down from the role effective July 31.
Tan Sri Ahmad Nizam has been instrumental in ensuring continued local participation in the Malaysian oil and gas industry within a fair and equitable framework.
Tan Sri Ahmad Nizam also steered the Board to strengthen the foundation for PETRONAS’ high-impact projects, particularly the Pengerang Integrated Complex in Johor and PETRONAS LNG project in Canada, to deliver long-term sustainable value to PETRONAS.
At the same time, throughout his chairmanship of Yayasan PETRONAS, the Foundation continued to contribute to the communities across Malaysia.
Tan Sri Ahmad Nizam said: “It has truly been a privilege to have served PETRONAS for the past 40 years, bearing witness to and being directly involved in its many milestones of growth and accomplishments that have taken the Company to where it proudly stands today.
“In the last three years PETRONAS has gone through unprecedented challenges, compounded by the demands of the transitioning industry landscape and the changing expectations of our stakeholders at home and abroad, requiring us to hasten our transformation to be where we will need to be for longevity and sustainability.
“As Chairman, I have been extremely fortunate to have had the collective trust and support of a well-functioning Board willing to challenge, debate and discuss the decisions we made to ensure PETRONAS would be on the right track to achieve its aspirations.
“I would like to express my whole-hearted appreciation to the Board members as well as the Executive Leadership Team of PETRONAS for making my job easier. I would also like to congratulate Tan Sri Mohd Bakke Salleh on his appointment and wish him all the best in steering PETRONAS towards its next chapters of growth.”
