Johari is KUB non-executive chairman

KUALA LUMPUR: Datuk Seri Johari Abdul Ghani has been appointed KUB Malaysia Bhd’s nonexecutive chairman, replacing Datuk Ahmad Ibnihajar.

The former second finance minister is also a director of CI Holdings Bhd.

He has more than 25 years of experience in the corporate sector.

Johari began his career at accounting firm Peat Marwick & Co, now known as KPMG.

It was revealed that of KUB’s four activities, only the liquefied petroleum gas business was profitable. Its other businesses are plantation, information and communication technology and power.

KUB, the former A&W franchise holder in Malaysia, had sold about RM400 million of assets and investments over the past 10 years.

“Most of the proceeds from the disposals were to finance its overhead,” said Johari, who had responded to the New Straits Times report last Monday quoting sources that his appointment would likely lead to a slew of other changes at KUB, including layoffs and disposals of certain subsidiaries.

KUB also told Bursa Malaysia that its board nomination and remuneration committee had been split into two committees.

Johari is now chairman of both the three-member board nomination committee and board remuneration committee.

Other members of the board nomination committee are Ahmad and Ab Rahim Abu Bakar.

Ahmad also sits in the board remuneration committee together with Datuk Norliza Abdul Rahim.