Pilipinas Shell Petroleum Corp. announced that Cesar Romero will step down as executive director, president and chief executive officer effective November 30, 2021. Romero, who was appointed president in November 2016, will stay until January 31, 2022 to ensure a smooth and streamlined transition and handover.

Romero joined Pilipinas Shell in 1987 as a refinery engineer. He holds a BS degree in Mechanical Engineering (cum laude) from the University of the Philippines, and a Masters in Business Administration (with High Distinction) from the University of Michigan. Prior to being appointed president, he was vice president of Shell’s Global Retail Network from August 2013.

First Filipina to lead Pilipinas Shell

In a filing with the Philippine Stock Exchange, Pilipinas Shell said Romero will be succeeded by Lorelie Quiambao Osial effective December 1. Notably, Osial will make history as the first Filipino woman to lead Pilipinas Shell, which has a long history in the Philippines, tracing its roots to Asiatic Petroleum Company (Philippine Islands) Ltd. since 1914.

Osial is currently the vice president – Finance Process Expenditure at Shell Shared Services (Asia) B.V., a position she has held since January 2019. Osial graduated from Silliman University in Dumaguete, Negros Oriental, the Philippines, in 1996 with a Bachelor of Science in Accountancy. She earned her MBA from the University of Western Australia in 2004.

Before joining Shell, she worked at Pepsi-cola Products Philippines, Inc. from 1996 to October 1999. She then joined Jardine Logistics Philippines where she worked as financial planning manager and then joined United Logistics in December 2000 as VP-chief financial officer.

She joined Shell in November 2001 as finance support advisor in Manila, Philippines, moving to Dubai, United Arab Emirates in September 2005 as senior finance advisor – Upstream Middle East. In February 2016, she was repatriated to the Philippines to become finance director and country controller for Shell Philippines Exploration BV, a post she held until December 2018.

Shell Philippines Exploration BV was the operator of the Malampaya Deepwater Gas-to-Power Project. Shell had a 45% operating interest in Service Contract 38 (SC38), which includes the producing Malampaya gas field.  Shell sold its interest in Malampaya in January 2021 for a base consideration of USD380 million, with additional payments of up to USD80 million between 2022 to 2024 contingent on asset performance and commodity prices.

Throughout her career at Shell, Osial has brought a keen focus on value and has established high performing, diverse teams who have built a strong sense of community and motivation even in times of transition and change.