Malaysia’s MISC names new CEO

Malaysia’s LNG shipping firm MISC, a unit of Petronas, said it has appointed a new chief executive after current CEO Yee Yang Chien decided to retire.

Effective September 30, Yee Yang Chien will retire after more than 20 years in various leadership roles within MISC. He held the role of CEO since 2015.

He will be turning the helm over to Rajalingam Subramaniam, MISC’s chief operating officer and president and CEO of the company’s unit AET, according to a MISC statement.

“It will be a huge privilege and honor to lead the MISC Group, a global and diversified maritime conglomerate, that I have proudly served for over 25 years,” Subramaniam said in the statement.

“The maritime industry is undergoing one of the most transformative periods, unlike anything we have seen before, with sustainability as the vital force that is shaping the industry’s future,” he said.

MISC’s LNG business logged a rise in both revenue and operating profit in the January-March period of this year.

The company is one of the largest operators of LNG carriers and most of them are on long-term charters. It operates a fleet of 30 LNG carriers and two floating storage units.

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