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Categories
| Maybank’s 3 new independent directors |
| Business & Market 2009 | ||||||
| Written by Financial Daily | ||||||
| Thursday, 16 July 2009 11:23 | ||||||
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The bank said the appointments, which took effect yesterday, represented a significant development in the ongoing transition and succession planning exercise implemented by the Maybank board of directors following an initiative formulated in 2007. With the new appointments, Maybank’s board now comprises eight directors, four of whom are independent non-executive directors. Hadenan, 63, was auditor-general from 2000 to 2006. Prior to that, he had served with the government for 36 years in the Treasury, the Ministry of International Trade and Industry and the Ministry of Works. He is currently the chairman of ICB Islamic Bank Ltd (Bangladesh) and PNB Property Holdings Sdn Bhd. He is also the chairman of the operations review panel of the Malaysian Anti-Corruption Commission. Maybank said Ismail, 58, was chairman of Bank Muamalat Malaysia Bhd from 2004 until his retirement in July 2008. The seasoned
He left Maybank in 2002 to assume the position of group chief executive officer of MMC Corporation Bhd prior to his appointment to the board of Bank Muamalat Malaysia. Ismail is currently on the board of UEM Group Bhd, PLUS Expressways Bhd, Aseana Properties Ltd, which is listed on the London Stock Exchange, SMPC Corporation Bhd, EP Manufacturing Bhd and several other private limited companies. Maybank said Tan, 63, was an economist by profession and started his career with Bank Negara Malaysia in 1978 undertaking research in economic policies and was subsequently appointed consultant to the central bank, the World Bank and the United Nations University for several years. He served as the secretary and a member on the Council of Malaysian Invisible Trade set up to formulate policies to reduce Malaysia’s deficit in service trade. He represents Malaysia on the Apec Business Advisory Council. Tan has been the group managing director of Southern Steel since 1983. He is also a director of Shangri-La Hotels (Malaysia) Bhd, Titan Chemicals Corp Bhd and Singapore-listed NatSteel Ltd. Meanwhile, two of Maybank’s directors, Mohd Hashir Abdullah and Tan Sri Chua Hock Chin, stepped down from the board yesterday. Maybank said the first phase of its broad and holistic review of the composition of the board saw the retirement of three long-serving directors in September 2007. It said apart from the appointments yesterday, the exercise had seen three appointments and six resignations, not including the positions of executive director, which also changed during the period. Maybank chairman Tan Sri Mohamed Basir Ahmad said as a board, its priority was to ensure the members had the necessary critical competencies to continuously rejuvenate and strengthen the board’s prevailing skills to better position the Maybank group in facing challenges. “We have embarked on a journey of strategic transformation to build on our leadership capabilities both in Malaysia and the region. In the past year, we have seen a transition in leadership at senior management level and to date, we have set in motion a number of intensive measures to strengthen process structures, service standards and build on our human capital resources,” he said. This article appeared in The Edge Financial Daily, July 16, 2009.
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