UPDATED
@ 06:01:12 PM 06-10-2011
October 06, 2011
Hassan Marican, courtesy of upstreamonline.com
KUALA LUMPUR, Oct 6 — Tan Sri Hassan Marican, who retired as Petronas
CEO last year because of friction with the Najib administration, has
accepted another directorship outside Malaysia, this time at US oil and
gas giant ConocoPhillips.
Since leaving Petronas at the beginning of last year, Marican has
accepted several directorships with Singapore GLCs including at
Sembcorp, SembCorp Marine and Singapore Power.
ConocoPhillips said today that Marican was appointed as a new outside director effective December 1, 2011.
Marican was part of the board that had appeared to have clashed with
Prime Minister Datuk Seri Najib Razak back in late 2009 over the
appointment of a former senior aide as a Petronas director despite the
prime minister having absolute powers in board appointments.
It was reported then that the former aide — Omar Mustapha — was
rejected twice and was appointed only after Najib had put his foot down.
Petronas had also decided not to sponsor the Malaysian-backed Lotus
F1 Racing team, going instead with the Mercedes Formula One team.
Marican was widely credited with turning Petronas into the only other
state-run major international player in the oil and gas space apart
from Norway’s Statoil.
The former Petronas chief stepped down on February 2010 after 15
years with the company and was appointed a director with Singapore GLC
Sembcorp Industries by June.
Marican’s flurry of overseas appointments also come at a time when
Malaysia is grappling with a chronic brain drain that threatens to
derail its developed country ambitions.
ConocoPhillips is a global integrated energy company. The company is
headquartered in Houston with approximately 29,900 employees, US$160
billion (RM506.05 billion) of assets and US$244 billion in annualised
revenues as of June 30, 2011.
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