Megat Zaharuddin steps down as Maybank chairman

PETALING JAYA: Malayan Banking Bhd (Maybank) chairman Tan Sri Datuk Megat Zaharuddin Megat Mohd Nor will be stepping down from his position on March 31, 2017, after about 12 years on the board.
Megat Zaharuddin was appointed as a director and chairman of Maybank on Oct 1, 2009. Prior to that, he was an independent non-executive director of Maybank from July 2004 to February 2009.
In a statement yesterday, Maybank said his position will be replaced by Maybank Investment Bank Bhd chairman Datuk Mohaiyani Shamsudin (pix), who has been on the board since August 2011.
"With this appointment, Mohaiyani will become the first woman to be appointed chairman of the main board of the country's largest public listed company," it added.
Meanwhile, the group president and CEO Datuk Abdul Farid Alias said the appointment of Mohaiyani as chairman augurs well for the group and will ensure continuity at the board, given that she has been serving as a director of Maybank for over five years.