After working with KrisEnergy for 6 years as Chief Financial Officer, Kiran Raj has decided to move on from the company and pursue other interests.
The company announced his resignation, yesterday.
Raj's last day at KrisEnergy would be 17th October 2019. The current Group treasury manager Joanne Ang will take the role of interim CFO while Raj will advise her in the transition period.
Besides being a CFO for KrisEnergy, Raj was also the alternate Executive Director and Vice President for finance and administration. He steps down from that role as well.
While the independent upstream oil and gas company looks for a successor of Raj, they acknowledge and appreciate his years of contribution to the company.
Tan Ek Kia, Chairman, KrisEnergy said, "He has been a valued member of the management team and has made a huge contribution to the business in what have been exceedingly challenging times given the plummet and prolonged depression in oil prices since late 2014. On behalf of the board, I would like to thank him for his work over the last six years and wish him every success in the future."
Recently, KrisEnergy's Chief Operating Officer James Parkin also resigned, with his last day being 3rd October.
With two crucial leaders gone in the same month, KrisEnergy has a lot of succession planning to do. The company has to not only find good replacements for the two key roles but also plan for a smooth transition process so that business doesn't get affected.
For the role of CFO Tan trusts Ang's capabilities to drive and manage the financial agenda for the company in the interim. "Ang has already been part if the financial management team since 2013 and is fully versed on all aspects of the company's financial and commercial matters", said Tan.
However, now with the CFO and the COO gone, how KrisEnergy ensures the business runs smoothly and no key decisions or work gets compromised will be key. Then finding successors for those two roles and helping them make a smooth transition will also be critical.