Zakaria re­sumes du­ties as GP/CEO of FGV Hold­ing Ber­had

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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.

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