KUALA LUMPUR (Feb 28): Media Prima Bhd has redesignated its chief executive officer Datuk Iskandar Mizal Mahmood as its new group managing director, effective April 1, to succeed Datuk Kamal Khalid, whose tenure will end on March 31.

Iskandar, who first joined Media Prima's board on Oct 1 last year, has over 30 years of experience with a multitude of companies, ranging from multinationals to government-linked companies, which were in industries like investment banking and technology.

"He brings this experience to lead the group in its transformation and turnaround initiatives. He currently also serves on the boards of Theta Edge Bhd and Globetronics Technology Bhd," Media Prima said in a statement today.

Among the significant roles he held prior to joining the group were group CEO and board member of Granatum Ventures Sdn Bhd, which is the holding company of Khazanah Nasional Bhd’s creative and media sector, and member of the Lembaga Tabung Haji Investment Panel. He was also previously the group CEO of Pos Malaysia Bhd and a group director of DRB-HICOM Bhd.

Group chairman Datuk Dr Syed Hussian Aljunid said he is expecting a seamless transition given Iskandar's knowledge of the media industry, and the fact that he has been serving Media Prima as executive director.

"We are confident that Datuk Iskandar will lead Media Prima to new levels of success moving forward. Equally important, the board believes that the appointment will provide continuity as the group forges ahead to transform Media Prima into a digital-first content and commerce company,” he said. 

Meanwhile, Syed Hussian expressed his appreciation to the outgoing MD, saying Kamal has demonstrated immense dedication for almost 11 years as he led the company during a very challenging period in Media Prima’s history.

"Despite the increasingly fragmented and constantly evolving media landscape, Datuk Kamal provided invaluable guidance to the management team, launched several new business initiatives and worked closely with the board to address the challenges while maintaining a high standard of governance," he added.

Shares in Media Prima closed 0.5 sen or 2.78% lower at 17.5 sen with a market capitalisation of RM194.11 million.