The Singapore-based holding firm of Atlantic, Gulf & Pacific Company (AG&P) has reshuffled its top management after the departure of its former Chief Executive Joseph Sigelman, following an internal investigation due to alleged mismanagement concerns in the company.

AG&P announced that Karthik Sathyamoorthy had been designated Chief Executive Officer (CEO) on a group level; while Faisal Nawaz had been named Chief Financial Officer (CFO); and Anupam Ahuja was appointed President, Corporate Development & Strategy for AG&P Group - Singapore.

Additionally, Alex P. Gamboa had assumed the post of CEO of AG&P Industrial for the Manila office; and he has been President of the company prior to assuming that post in their Philippine operations.

According to AG&P, Sathyamoorthy will carry on with his task as CEO of the company’s LNG Terminals & Logistics business unit that is also based in Singapore; which has been the major function he has in the company prior to his promotion as a top executive of the group.

“Sathyamoorthy has been with AG&P Group since 2017 and has been instrumental in establishing AG&P as a leading force in the downstream LNG/natural gas industry in South and Southeast Asia,” the firm noted.

Onward, Sathyamoorthy “will be focused on AG&P LNG’s substantial growth pipeline and proprietary technologies in development on energy transition to establish clean energy networks across diverse unserved and underserved markets towards a carbon-neutral future,” the company noted.

In the case of Nawaz, he was previously CEO at Asiya Investments Hong Kong Ltd., Asiya Capital Investments Co. and Asiya Investments (Dubai) Ltd – a company that is a major shareholder in AG&P.

The firm qualified that Nawaz “has more than 25 years of experience across multiple industries in operational restructuring, R&D (research and development), treasury, and corporate finance.”

For Ahuja, she joined the company in 2011, and she has been mainly “responsible for the design and execution of the overall marketing and communications strategy to create the AG&P brand.”

The company further conveyed “she brings over two decades of international experience in marketing and communications, human resources & change management across energy, oil and gas, pharmaceutical, outsourcing and IT (information technology) sectors.“

AG&P emphasized that in her new role, Ahuja “will continue to focus on marketing and sustainable growth strategies to drive value for all AG&P stakeholders.”

On the overall ownership and board of directors, AG&P specified that there will be no changes that has been instituted for the company.

Apart from Asiya Investments, the other key shareholders in the company are Japan Bank for International Cooperation (JBIC), Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development, Osaka Gas and I Squared Capital.

In the Philippines, the current major undertaking of AG&P has been the recently completed Linseed Field Power Corporation’s offshore LNG import facility, which has a lease arrangement with SMC Global Power Holdings of the San Miguel group for the supply of gas fuel to the ilijan plant.