Isa and Zakaria advised to resign: Puad Zarkashi

PETALING JAYA: Felda Global Ventures Holdings Bhd (FGV) chairman Tan Sri Mohd Isa Abdul Samad and FGV group president and CEO Datuk Zakaria Arshad have been advised to quit their positions following their fallout within the government-linked company (GLC).

Stating that their "open warfare" was very disappointing, Umno Supreme council member Datuk Dr Mohd Puad Zarkashi said the current episode involving FGV is shameful because there is no consensus between the duo.

"Where possibly could they work together after this?

"Is this going to be a constant phenomenon in the management of Malay-related institutions?" he asked in a statement issued today.

Instead of waiting for the Prime Minister's intervention, Mohd Puad opined that both Mohd Isa and Zakaria should resign from their positions voluntarily as it is a more dignified thing to do.

"Let new faces take over and continue to spearhead FGV so that it would benefit the shareholders, especially the Felda settlers.

"Split them (Mohd Isa and Zakaria) up. Let them be at new but separate places," he said.

Mohd Puad also suggested that the jurisdiction of the chairman, CEO, including the authorities who appoint members to the board of directors be reevaluated so that the institution does end up being a field of personal interest.

"There are times when we hear some chairman also becomes chairman of several other subsidiaries. If one or two, this does not matter.

"(However), there are allegations where most subsidiaries have the same chairman. Is this good corporate practice? Or must there be a certain limitation in place so that it is not monopolised and abused by an individual?" he said.

Calling on Felda chairman Tan Sri Shahrir Samad to not be quiet for long, Mohd Puad said the resignations must happen to prevent a "trust deficit" that could cause FGV's share prices to plunge.