Pilipinas Shell Petroleum Corporation announced that its current President and Chief Executive Officer (CEO) Cesar G. Romero will step down by November 30 this year.
In a disclosure to the Philippine Stock Exchange (PSE), Pilipinas Shell said Romero will be replaced by Lorelie Q. Osial, who is currently the Vice President – Finance Process Expenditure at Shell Shared Services.
There will be transition period in the changeover of leadership at one of the country's most enduring oil companies in the country.
“Mr. Romero will stay until January 31, 2022 to ensure a smooth and streamlined transition and handover to Ms Osial,” Pilipinas Shell noted.
The incoming chief executive of Pilipinas Shell who will take her position starting December 1 this year, according to the company, “has 20 years of experience with Shell having previously worked at United Logistics and Pepsi Cola.”
Following those corporate forays, she joined the upstream business of Shell in the Philippines, and Osial has worked in “various business-facing finance roles in production, projects, regional, shareholder and joint venture environments in upstream and mid-stream projects.”
Pilipinas Shell added that throughout Osial’s career cycles, “she has brought a keen focus on value and has established high performing, diverse teams who have built a strong sense of community and motivation even in times of transition and change.”
Osial will also be replacing Romero in his capacity as Pilipinas Shell’s Executive Director and Chairman of the nomination committee of the company’s board upon her installation at the oil firm’s major C-suite post.
No specific details had been provided by Shell on Romero’s decision to bow out from the company; but it was during his stint that many of the energy firm’s business focus has shifted – including the transformation of its Tabangao refinery into a world class import terminal; and the principals also decided on the divestment of Shell’s 45-percent stake in the Malampaya field.
In Pilipinas Shell’s board meeting on Tuesday (November 9), approval of further changes in the corporate organization had likewise been tackled – including the designation of Randolph Del Valle as board director replacing Rolando “Don” Paulino, who resigned from his post as managing director of Shell Philippines Exploration B.V. (SPEX) and Pilipinas Shell Director since September 8 this year.
In addition, the company board has greenlighted the appointment of Mark Hadrian P. Gamo as the new assistant corporate secretary of the company, replacing Atty Rubin G. Cura.
Prior to his current role, Shell specified that Gamo “was with Shell Global Litigation Asia Pacific Team, a position he occupied since joining the corporation in June 2012.”