Pilipinas Shell Petroleum Corporation (PSPC) President and CEO Cesar Romero (left photo) will be stepping down from his post on November 30, the country’s second-largest oil firm said in a disclosure to the Philippine Stock Exchange.
Romero will be replaced by Lorelie Osial on December 1. Osial currently serves as Vice President – Finance Process Expenditure at Shell Shared Services (Asia) B.V. She has 20 years of experience with Shell having previously worked at United Logistics and Pepsi Cola.
Osial joined Shell’s upstream business in the country Philippines and since then, “has worked in various business-facing finance roles in production, projects, regional, shareholder and joint venture environments” in upstream and midstream projects.
Despite stepping down, Romero will stay with Shell on January 31, 2022 “to ensure a smooth and streamlined transition and handover.” No reason was given for Romero’s departure.
Under Romero’s watch, Shell closed its refinery in Tabangao, Batangas City in August 2020. The refinery was then converted into an import facility last June.
In May, Shell Philippines Exploration B.V. (SPEX) sold its 45% stake in the Malampaya gas project to Dennis Uy’s Udenna Corporation, which already bought the other 45% from Chevron. Senators and critics of the Duterte administration have been questioning both Malampaya purchases.
Shell also said in the disclosure that Rolando “Don” Paulino, Jr. (right photo) left the company on September 8. Paulino served as SPEX managing director and PSPC director.
Photo of Cesar Romero from PSPC website.