MSM

0.595

-0.025 (-4%)

OTHERS Appointment of Acting Group Chief Executive Officer of MSM Malaysia Holdings Berhad

MSM MALAYSIA HOLDINGS BERHAD

Type Announcement
Subject OTHERS
Description
Appointment of Acting Group Chief Executive Officer of MSM Malaysia Holdings Berhad

We refer to our announcement dated 5 October 2020.

 

Pursuant to the cessation of office of the Group Chief Executive Officer (“GCEO”) of MSM Malaysia Holdings Berhad (“MSM” or “Company”), the Board of Directors (“the Board”) of MSM is pleased to announce the appointment of Encik Fakhrunniam Othman as Acting Group Chief Executive Officer (“AGCEO”) of MSM with effect from 8 October 2020 until the Board identifies a suitable candidate for GCEO position.  He shall continue to assume the responsibilities and authorities of the GCEO and report direct to the Board.

 

Encik Fakhrunniam Othman was appointed as the Officer-in-Charge on 8 September 2020 to perform the functions of the GCEO when the GCEO was placed on leave of absence from 8 September 2020 to 5 October 2020 relating to an adjustment to write-off inventories amounting to RM36.6 million in MSM Sugar Refinery (Johor) Sdn Bhd in the 2019 Financial Statements.

 

The appointment of Encik Fakhrunniam Othman as the AGCEO is based on his vast experience in accounting, finance, strategic planning, investments coupled with his experiences as Chief Executive Officer of three (3) subsidiary companies in FGV Group.  Encik Fakhrunniam Othman is a graduate from the Association of Chartered Certified Accountants (ACCA) United Kingdom, a Chartered Accountant with the Malaysian Institute of Accountants (MIA) and possesses a Master in Business Administration (Executive) from the Royal Melbourne  Institute of Technology.    

 

The Board believes that during this interim period, Encik Fakhrunniam Othman is able to bring strong leadership to execute the ongoing initiatives of the Company’s strategies and plans that are already in place with minimum disruptions.

 

The Board Executive Committee which was established on 8 September 2020 shall continue to guide and assist the AGCEO.

 

The Board also wishes to update that the process of identifying a suitable candidate for the GCEO position has commenced.

 

Further announcement shall be made in the event of material developments on this matter.

 

This announcement is dated 9 October 2020.






Announcement Info

Company Name MSM MALAYSIA HOLDINGS BERHAD
Stock Name MSM
Date Announced 09 Oct 2020
Category General Announcement for PLC
Reference Number GA1-08102020-00073