KUALA LUMPUR (Aug 1): Datuk Ahmad Nizam Salleh has been appointed as the new chairman of the board of Petroliam Nasional Bhd (Petronas) with immediate effect, while Tan Sri Wan Zulkiflee Wan Ariffin will remain as the president and chief executive of the group.

This was announced by the Prime Minister's Office (PMO) today in a statement.

According to the PMO, Ahmad Nizam brings with him 37 years of experience in the oil and gas industry, and had served Petronas in several positions for the majority of his career.

Ahmad Nizam replaces Tan Sri Mohd Sidek Hassan who completed his tenure as Petronas chairman on June 30, 2018. Sidek was appointed Petronas chairman on July 1, 2012.

Ahmad Nizam is also an independent non-executive director of WZ Satu Bhd, a civil engineering and construction company that also manufactures and trades in steel products.

According to WZ Satu's annual report, Ahmad Nizam holds a Bachelor Degree in Business Administration from Ohio University, United States of America and attended the Advanced Management Program at Wharton School University of Pennsylvania in the US.

He was previously with Petronas Corporate Head Office from 1981 to 1987, where he held various positions such as analyst, planner and project coordinator in corporate planning and finance sectors.

Subsequently, he held various senior positions in Petronas from 1988 to 2002, including Head of Crude Oil Group and subsequently, Group Treasury. In 2004, he assumed the position of Managing Director of Malaysia LNG Group of Companies and was promoted to Vice President, Corporate Services Division of Petronas in 2007.

From July 2010 to August 2015, he was the managing director of Engen Ltd, which is a subsidiary of Petronas in South Africa.