Dr M: Petronas CEO has to come from within

 

Petroliam Nasional Bhd (Petronas) adviser Tun Dr Mahathir Mohamad said the next chief executive officer (CEO) of the national oil company should come from within, in order to have continuity in the group.

Dr Mahathir said it was more beneficial to the national oil company to have a new leader who came from its ranks otherwise the new chief could face resentment and have a tough time learning a new business.

"If they appoint an outsider altogether, it could cause some resentment as to why someone from within the company was not chosen," he told newsmen during his visit to the I-City in Shah Alam, Selangor.

According to the former prime minister, an outsider would also find it hard to adapt quickly in the oil and gas business and to establish contacts since Petronas has a large international presence.

"As such, it's very important for the candidate to come from within for the sake of continuity," Dr Mahathir added.

"The three currently shortlisted for the position are from Petronas and this means they know the company," he said when asked about the choice of candidates for the post of CEO and president.

However, he noted, that the chairman post could be someone from outside the organisation.

On the possibility of current president and CEO Tan Sri Mohd Hassan Marican's contract not being renewed, he said, "Perhaps, he has reached retirement age."

"He has been there for a long time. One has to retire, even if you are very good," he added.

A week ago, Dr Mahathir indirectly indicated that the top post at the national oil firm should not be given to a politician.

He was commenting on news reports that three individuals had already been identified for the Petronas CEO position.

The three named in the reports were former MISC Bhd managing director Datuk Shamsul Azhar Abbas and Petronas board members Datuk Anuar Ahmad and Datuk Wan Zulkiflee Wan Ariffin.