Malaysia-based integrated oil and gas services and solutions provider SapuraKencana Petroleum Berhad announced Friday that prior to the merger between SapuraCrest Petroleum Berhad and Kencana Petroleum Berhad, it was decided that the leaders of the merging entities, Shahril Shamsuddin and Mokhzani Mahathir would come together into the newly merged SapuraKencana Petroleum Berhad to jointly refine the strategy set pre-merger and spearhead integration of the companies.
With that integration now successfully completed, what remains is the execution of the strategy that was set by the two leaders.
Execution of this strategy involves the streamlining of our company’s management. Thus, Mokhzani Mahathir and Yeow Kheng Chew, have decided to relinquish their management roles in the company. They will, however, continue to actively support the company as non-executive non-independent directors.
Shahril Shamsuddin will remain as president and Group CEO and lead the company through its next phase of development.
In their new capacities, Mokhzani and Yeow will continue to actively support and advise Seri Shahril and the Board on the continued growth of the company.
“This development is consistent with the strategy set by the leaders pre-merger, and is not in any way a response to any conflict of interest queries raised in the past,” said the Chairman of the Board, Hamzah Bakar.
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