Tan Sri Ahmad Nizam Salleh
KUCHING (July 13): Petroliam National Berhad (Petronas) chairman Tan Sri Ahmad Nizam Salleh will be retiring from the company and its Board after having served his three-year contractual tenure which ends on July 31, said the national oil company in a statement yesterday.
Ahmad Nizam had served the company in various leadership positions for 37 years.
According to the statement, Ahmad Nizam – together with the Petronas Board – was instrumental in facilitating the Commercial Settlement Agreement between Petronas and Sarawak over the imposition of State Sales Tax for petroleum products as well for the resolution of other oil and gas matters.
“These have paved the way for greater Petronas-Sarawak collaboration as well as for more active participation by the state in the oil and gas sector,” said the statement.
It added Ahmad Nizam has been instrumental in ensuring continued local participation in the Malaysian oil and gas industry within a fair and equitable framework.
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 the company.
Upon his retirement, 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).
He will pass the Petronas chairmanship baton to Tan Sri Mohd Bakke Salleh, following the latter’s appointment as announced by the Prime Minister earlier yesterday.
Mohd Bakke currently serves Petronas as an independent director as well as the chairman of its Risk Committee and a member of its Audit Committee.
His appointment as Petromas chairman takes effect from August 1.
Petronas in the statement added Mohd Bakke’s vast experience serving various organisations in diverse capacities will help ensure the company’s business longevity and steer it towards achieving its ambitions of becoming a progressive energy entity as it charts its growth forward.