FGV yet to receive formal notification of Azhar's appointment as chairman

PETALING JAYA: Felda Global Ventures Holdings Bhd (FGV) is yet to receive formal notification from The Minister of Finance (Incorporated) on the appointment of former Malakoff Corp Bhd group managing director Datuk Wira Azhar Abdul Hamid as chairman effective Sept 8, despite an announcement made to the effect by the prime minister.
Datuk Seri Najib Abdul Razak in a statement last Friday announced Azhar’s appointment as FGV chairman in accordance with the special shareholders’ rights via Article 80(1) of the memorandum and articles of association of the group.
In a filing with Bursa Malaysia however, FGV said it is yet to receive notification in writing from MoF Inc for Azhar to be made the government-appointed director.
Until such a notification is received, the board of FGV said, Tan Sri Sulaiman Mahobob remains the acting chairman of the board and will continue to discharge his duties.
Najib, in explaining his decision to appoint Azhar, stated that as a listed company with Federal Land Development Authority (Felda) as the majority shareholder, FGV’s success is very important for the welfare of Felda settlers.
Azhar’s previous stints in the corporate sector include being acting president and group chief executive of Sime Darby Bhd, CEO of Mass Rapid Transit Corp Sdn Bhd and chairman of Tradewinds Corp Bhd.
He resigned from his position as group managing director of Malakoff Corp in June this year.
“I am confident with his extensive experience, he will be able to spearhead FGV excellently while raising investors’ confidence, which would translate into stronger share price for FGV,” said Najib.
He thanked Sulaiman, acting chairman of FGV effective June 19, 2017, for his contribution to the group.