According to NIOC, Hamid Bovard, speaking Monday during an induction ceremony of the new financial managers on the sidelines of a board meeting, thanked Mohammad Rousta, the former financial manager of NIOC, and introduced Ali-Mohammad Masoumian as the new head of the department. He emphasized that financial affairs are among the most intricate and vital components of NIOC.

Bovard noted that a financial manager must not only oversee internal financial performance but also engage directly with key institutions such as the Plan and Budget Organization, the Audit Court, the Central Bank of Iran, the Ministry of Economic Affairs, and even senior government officials.

He stressed that this role requires meticulous attention, strategic thinking, and broad collaboration, as managing financial resources at such a large-scale company demands fiscal discipline and the ability to navigate complex challenges.

The NIOC CEO praised Rousta’s efforts during his tenure, acknowledging his leadership in a difficult and demanding period. "With relentless effort and a responsible approach, he paved the way for financial development and transparency. I sincerely thank him for his dedicated service and wish the new financial manager success in continuing this path," Bovard said.

Embracing change as a key to dynamic management 

Mohammad Rousta, the outgoing financial manager, expressed a positive outlook on managerial transitions, stating, "A dynamic management requires accepting the principle of change, as fresh leadership brings energy and vitality to the system."

Reflecting on his tenure, Rousta said, "With the support of my colleagues, I strived to enhance this department’s effectiveness and gave my utmost effort. Our goal is constant improvement, and I hope we remain steadfast supporters of the Islamic Republic’s system."

Leveraging past experiences 

Ali-Mohammad Masoumian, the new financial manager, briefly thanked the NIOC CEO and Mohsen Paknejad, the oil minister, for their trust. "I hope to deliver positive and productive results for NIOC by building on the experiences of my predecessors and collaborating with the hardworking financial teams," he said.