Basic Energy’s Oscar de Venecia Jr. is relinquishing his post as president and CEO of the company and will serve as one of the vice-chairmen of the board.
In a disclosure to the Philippine Stock Exchange, Basic Energy said De Venecia would hand over the management to Luisito Poblete upon effectivity of his early retirement at the end of the year.
Poblete, who is currently Basic Energy’s chief operating officer, will be tasked to spearhead the growth of the company in the coming years.
As vice chairman, de Venecia will assist Poblete in achieving the targeted growth in the company’s business portfolio.
“With the board’s decision to fast-track and move on with new and various wind and solar projects, Mr. de Venecia will take the lead in the areas of business development and marketing, and coming from his long years of experience with the company, he will take charge of promoting and strengthening relationships with shareholders, investors and stakeholders,” Basic Energy said.
Prior to joining Basic Energy in 2019, he was the president and managing director for Total (Philippines) Corp. and has also worked with Pilipinas Shell Petroleum Corp. for 17 years in various operations and engineering positions.
“With three years as operations head in the company, Mr. Poblete is poised to assume the bigger role of president & CEO of the company, with a strong and solid experience, molded from both within and outside of the company,” Basic Energy said.
“These teamwork and re-alignment are expected to make the company well-equipped and thus ready to face the challenges of the coming years, and achieve the targeted business growth aimed at making the company a truly pioneering energy development company,” the company added.