ISA RESIGNS, SULAIMAN STEPS IN
Najib says immediate change allows FGV to operate uninterrupted
THE prime minister announces that Tan Sri Isa Samad has voluntarily relinquished his position as chairman of Felda Global Ventures Holdings. Tan Sri Sulaiman Mahbob is appointed acting chairman ‘until a final decision is made’.
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SHAHRIR SAYS SULAIMAN ‘ENSURES FELDA’S VOICE AND SPIRIT CONTINUE TO BE HEARD’
TAN Sri Mohd Isa Abdul Samad has voluntarily relinquished his post as chairman of Felda Global Ventures Holdings Bhd (FGV). Prime Minister Datuk Seri Najib Razak said this after announcing the appointment of Tan Sri Sulaiman Mahbob as the acting chairman yesterday.
Najib also said in appreciation of Isa’s contributions and to ensure continuity of his services, he was appointed as acting chairman of the Land Public Transport Commission.
“I met Isa this morning (yesterday) with Datuk Seri Idris Jala. We deliberated on FGV’s future and Isa’s roles. Isa has agreed to relinquish his post (as FGV chairman) voluntarily.
“The restructuring reflects the government’s wish to put FGV on a stronger path in terms of management as we believe FGV has a bright future ahead,” he said after handing over mock keys to house owners under the Selasih 1Malaysia Civil Servants Housing Project at Presint 17 here.
On why Sulaiman was appointed as an acting chairman, Najib said it was until the final decision had been made.
“There is a need for an immediate change. For a new appointment, it will take a bit of time. We want FGV to continue uninterrupted,” said Najib.
It was reported that Sulaiman was no stranger to FGV as he had been a non-executive director with the company prior to his appointment.
The 67-year-old is also the chairman of Telekom Malaysia Bhd. He had served the government for 38 years in various capacities, including as Economic Planning Unit director-general, then Domestic Trade and Consumer Affairs Ministry secretarygeneral, and Finance Ministry under-secretary (economics).
On the fate of FGV president and chief executive officer Datuk Zakaria Arshad, Najib said it would only be determined after the board of inquiry into alleged breach of procedures in Delima Oil Products Sdn Bhd, a subsidiary of FGV, was completed.
The prime minister, however, stressed that being put under the microscope did not mean they were guilty.
“It is a normal process of good governance. Once it (the inquiry) is completed, the board will make its decisions as best and fair as possible.”
Zakaria was reported to have been asked by Isa to resign on the grounds that the CEO had gone against corporate practices by allowing Afghan company Safitex Trading to make a purchase without a letter of credit, which led to delayed payment.
In this respect, Zakaria and three other have been suspended, pending investigations.
In Jempol, Isa said he would be holding a press conference to clear the air on matters surrounding his resignation from FGV soon.
“It’s too early to issue a statement on the matter. I will hold a press conference soon so that all members of the media will get equal access to my side of story.”
Isa also refused to comment on his new appointment as acting chairman of SPAD.
“Give me some time. Let me start work first before I issue any statements,” he said at a breaking-of-fast event with Jempol police headquarters personnel here yesterday.
Present was Jempol district police chief Superintendent Noorzainy Mohd Noor.