ARLENE Chow will retire as CEO of Heritage Petroleum Company Ltd next month. The company made this announcement in a statement on Monday.
Heritage was one of four subsidaries created under Trinidad Petroleum Holdings Company Ltd (TPHL). The company was formed after the closure of state oil company Petrotrin in November 2018.
The other subsidaries are Paria Fuel Trading Company Ltd, Guaracara Refining Company Ltd and Petrotrin (which exists only on paper, unlike the other three subsidiaries, which are active companies).
In the statement, Chow said this time she is retiring for good.
“It has been quite a journey. Many challenges but also many rewards. Today we are scaled for efficiency, have the right talent on board, and consistently turn a profit."
Despite challenges such as aging assets and market changes, Chow was confident that Heritage will continue to be an important contributor to TT's Gross Domestic Product (GDP) for a long time.
"I feel confident that I leave Heritage with a strong foundation and am proud to have played a part in this national success story."
Chow reiterated that Heritage's greatest asset exists above ground: "The dedicated team of professionals that has worked so hard to build a delivery culture and achieve these results."
She described her retirement as bittersweet, as Heritage had been her passion for the last four years.
Company chairman Michael Quamina, SC, thanked Chow for her service.
"Arlene has been instrumental to the continuing turnaround at Heritage. We have relied on her industry knowledge and expertise in managing mature fields to actualise our vision for a viable and sustainable business."
Quamina said the company was at a juncture where it must make tough strategic choices that will be informed by sustained lower oil prices, further resource decline and a more aggressive integrity programme.
"This phase of the journey will be led by our incoming CEO.” he added.
Heritage said the new CEO will be named at a later date.
Chow's career in the energy sector spans 40 years,. She began in 1982 as an operations geologist in Petrotrin's exploration and production department.
She has also had stints at bpTT, BP Alaska and Atlantic LNG during this period.
Chow retired from Atlantic in 2018.
In 2019, then energy minister Franklin Khan asked Chow to come out of retirement to serve on Heritage's board of directors.
Heritage said Chow distinguished herself by "her low-keyed, straightforward and straight-talking management style, she is known to put the work and her people first."
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