BIMB CEO Khairul Kamarudin resigns

KUALA LUMPUR: BIMB Holdings Bhd CEO Khairul Kamarudin has resigned from his post and has concurrently relinquished his position as the CEO of the group's wholly-owned subsidiary Bank Islam Malaysia Bhd.
BIMB chairman Tan Sri Haji Ambrin Buang said in a statement that the boards of both entities have accepted his resignation and decided to set up a board executive committee to oversee the group's day-to-day operations.
He assured all shareholders, stakeholders, depositors, clients and customers that both BIMB and Bank Islam will not be affected by this development and it is business as usual for the banking group.
Meanwhile, Bank Islam CFO Mohd Muazzam Mohamed has been appointed as the acting CEO for the bank effective today.
A former partner of KPMG and executive director of KPMG's management consulting practice from 1997 to 2015, Mohd Muazzam has 22 years of experience in the field of audit, finance and consulting.
He has played a key role in the bank's strategic direction, capital and balance sheet management, corporate finance, credit, market positioning, financial planning & control and general administration. He is a member of various executive committees in Bank Islam and chairs several project steering committees.
He is also a director on the board of several companies within BIMB Group and Bank Islam.
BIMB's share price gained 1 sen or 0.3% to close at RM3.97 on 609,100 shares traded.