Zakaria resumes duties as GP/CEO of FGV Holding Berhad
KUCHING: Felda Global Ventures ( FGV) has announced that Dato’ Zakaria Arshad will resume his duties as FGV Holding Berhad’s group president/chief executive officer ( GP/CEO) on Oct 16.
Zakaria is resuming the duties after having been on leave of absence since last June 6, FGV said in a press statement dated Oct 9.
The FGV board stated that the domestic inquiry ( DI) has been carried out with proper internal processes consistent with the Minister of Finance ( Incorporated)’s requirement that the DI process must be carried out with integrity, spirit of impartiality and ensuring proper corporate governance.
The findings of the DI were submitted to the Minister of Finance ( Incorporated) in line with Article 80 of FGV’s Memorandum and Articles of Association and the Minister of Finance (Incorporated) had taken time to review before making its decision, the statement pointed out.
It added: “After taking into consideration the ongoing FGV transformation programme and the GP/CEO’s commitment and assurance to resolve the long standing debt of Safitex Trading LLC., the Minister of Finance (Incorporated) would like Zakaria to return as the FGV GP/CEO.”
In the same statement, FGV chairman Datuk Wira Azhar Abdul Hamid reiterated his commitment to turn around and bring the company to greater heights despite the various challenges.
“My immediate priorities are to improve operational and financial performance of our core business and ensure sustainable growth going forward.
“Being one of the biggest palm oil plantation companies, FGV must aspire to be the industry leader in terms of productivity and financial returns, so any factors hindering us from achieving these objectives must be addressed immediately,” he was quoted as saying.
Azhar said there is a need for a new management structure to strengthen the organisation and to provide better focus towards achieving FGV’s strategic plans.
“The board composition will also be enhanced with the appointments of related subject matter experts to the board. The board will make the related announcements in due course,” he added.
My immediate priorities are to improve operational and financial performance of our core business and ensure sustainable growth going forward. Datuk Wira Azhar Abdul Hamid, FGV chairman
(From left to right, seated) Wong, Chan, Sazali, Mustapa, advisor to SBTCA Lau Khing Seng, Sin Chong and others pose during the meeting.