Shamsul Azhar Abbas has been appointed as the president and chief executive of state-run Petroliam Nasional Bhd, or Petronas, replacing Hassan Merican whose term expires on Feb. 9, Malaysia's Prime Minister Najib Razak said Wednesday.
Shamsul, 57, who was the president and chief executive of Malaysian shipping giant and Petronas unit MISC Bhd. between 2004 and 2009, will assume his new position on Feb. 10, Najib said in a statement. Hassan has helmed Petronas since 1995Unlisted Petronas is Malaysia's only Fortune 500 company. It is also among Malaysia's largest bond issuers.
In addition to MISC, Petronas also controls several other listed units, including retail gasoline station operator Petronas Dagangan Bhd and gas distributor Petronas Gas Bhd.