By Robert Harvey
LONDON (Reuters) – Global commodity trading house Trafigura said on Wednesday that Hadi Hallouche will step down as chief executive of its downstream energy business Puma Energy, to be replaced by Mark Russell.
Hallouche will work as co-CEO with Russell until the end of June, Swiss-based Trafigura said in a statement.
Hallouche has been in the post of Puma CEO since October 2021, according to his Linkedin profile, prior to which he worked as Trafigura’s Asia head of oil and global head of liquefied natural gas.
Before that, he was an LNG trader with Shell.
It marks the latest leadership departure for Trafigura, after Richard Holtum replaced Jeremy Weir as group CEO on January 1. That followed a slew of retirements including former CFO Christophe Salmon, executive director Jose Maria Larocca, and COO Mike Wainwright in 2024.
Russell takes up the role having worked at Trafigura for 19 years, his Linkedin profile shows.
He previously worked as a trader of residual fuel oil and refinery feedstocks, and most recently as head of energy for the Middle East and North Africa region.
Russell played a key role in developing Trafigura’s Africa fuel trading, and started its bunkering business in West Africa, the company said in the statement.
“Mark’s focus on performance and delivery as well as his deep understanding of the downstream sector will be crucial as Puma Energy continues to actively manage market risks and capture new growth opportunities,” said Puma Energy Chair Rene Medori.
Trafigura took over a controlling stake and integrated Puma Energy in 2021. It is active in 35 countries, mainly in central America and sub-Saharan Africa.
(Reporting by Robert Harvey; Editing by Emelia Sithole-Matarise)
