Asia/Pacific News
Brightoil's Singapore CEO Appointed Group Executive Director
Brightoil Petroleum (Holdings) Limited on Friday announced that effective May 8, 2015 its CEO of Singapore operations Wang Wei, who is also the former managing director of Sinochem International Oil (Singapore) Pte. Ltd., has been appointed as an executive director of the Group.
Brightoil chairman Sit Kwong Lam commented, "Mr. Wang possesses extensive experience together with proven track records of success in the oil and gas sector. We are confident that his appointment as a board member will drive the Group's sustainable development and reinforce its market leadership going forward."
It is understood that Wang will hold office until the next annual general meeting and will thereafter be subject to retirement by rotation and re-election at the Group's annual general meeting.
A service agreement was entered into between the Group and Wang for an initial term of three years.
In addition, Brightoil announced that Justin Sawdon Stewart Murphy will resign as an executive director of the Group as well as the chief executive officer of Brightoil Shipping Singapore Ptd. Ltd., a wholly-owned subsidiary of the Group, also effective May 8, 2015.
Wang Wei's appointment as Brightoil's CEO of Singapore operations was confirmed in November of 2014 as part of a management reshuffle that led to the departures of two Singaporean senior heads of trading.
