Beatriz Fung takes on leadership at Petroperú again amid financial crisis.

The Board of Directors of Petroperú has decided to appoint Beatriz Cristina Fung Quiñones as the new General Manager of the company, a position she will hold starting August 1, 2024. This appointment marks the third time Fung has taken on this role, solidifying her position in one of the most important companies in the country. This change comes in a challenging context for the state-owned enterprise, which has accumulated significant losses in recent years. The announcement was made via resolution SMV 005-2014-SMV/01, detailing that Fung replaces Luis Antonio Gonzales Talledo, who has been at the helm of the general management since March of this year. The fact that Fung is returning to this position amidst financial challenges highlights both her experience and the urgency for strong leadership in the company. Beatriz Fung is a professional with an impressive track record in the hydrocarbons sector, accumulating over 20 years of experience. Her career in the industry includes key roles in strategic planning, risk management, and insurance, as well as budget management. These credentials position her as a suitable leader to tackle the obstacles Petroperú currently faces. This is not the first time Fung has held the position of General Manager of Petroperú. In April 2022, she was appointed to this same position, becoming the first woman in the company's history to reach this role, although she served in an interim capacity. Her return, therefore, symbolizes not only continuity but also recognition of women’s leadership capabilities in traditionally male-dominated sectors. Petroperú's financial situation is critical. As of June this year, the company had reported losses exceeding 1.5 billion dollars, posing significant challenges for the new management. Fung will need to address these difficulties with a clear strategy that allows for recovery and long-term sustainability of the company. The current context for Petroperú is complex. The company is facing not only financial problems but also challenges related to regulation, sustainability, and social pressure to provide quality services. In this regard, Fung’s experience in risk management will be key to navigating this challenging environment. Moreover, Fung's leadership will be closely observed by various stakeholders in the energy sector, who are eager to see how her approach can influence the future direction of the company. Investors, employees, and users of Petroperú have high expectations for this new stage, where transparency and efficiency will be crucial. Fung's arrival also reflects a shift in the perception of women's roles in leadership positions in Peru. Her repeated appointment underscores the importance of continuing to break gender barriers in the business realm, promoting greater female representation in key sectors for the country’s development. Regarding the immediate challenges Fung will face, her management is expected to address the modernization of processes, improvement in operational efficiency, and the implementation of policies that ensure the sustainability and social commitment of Petroperú. The decisions she makes in this regard could set a precedent for future administrations. Finally, it is essential for the new General Manager to work on clear and effective communication with all stakeholders, creating an atmosphere of trust and collaboration. Only in this way can Petroperú face the challenges ahead and reposition itself as a benchmark in the country’s energy sector. All eyes are on Beatriz Fung and her leadership during this critical period for the state-owned enterprise.