SHANA - CEO of the National Iranian Oil Company (NIOC) Ali Kardor appointed Ali Akbar Pourebrahim as the new vice-chairman and CEO of the Naftiran Intertrade Company (NICO).

Mr. Kardor issued a decree on Sunday, replacing Majid Hedayat Zadeh Razavi with Mr. Pourebrahim as NICO CEO.

"In view of the sensitivity and importance of the company, it is necessary to take the necessary steps to restore and revitalize its role at the international level and given the increasing necessity for bringing about financial discipline in the company, do provide me with the periodic reports on performance improvement. It is hoped that you will succeed in your new mission by relying on Allah the Almighty," read a part of Mr. Kardor's appointment decree.