Search for FGV CEO is still on

FGV Holdings Bhd seems to be bidding its time to fill up the group’s vacant post of chief executive officer (CEO).

The recent appointment of its chairman, Datuk Wira Azhar Abdul Hamid, as the group’s interim CEO further supports the view that the search for a new CEO will likely drag on till next year.

The latest appointment, however, came as a big surprise to market observers, who opine that there must be a clear line drawn between the role of a chairman and a CEO. Furthermore, Azhar is a non-executive chairman of FGV.

Frequently, the role of chairman is seen as the company’s leading representative and presents the company’s goal, business and values to shareholders, the public and the media. The key role of the CEO is to deliver the strategic goals of the company, within budget.

To recap, the FGV CEO’s position has always been a hot seat, which is well reflected by the turnover rate of CEOs since the group got its listing status in 2012. The first CEO was the late Tan Sri Sabri Ahmad, followed by Mohd Emir Mavani Abdullah and most currently, Datuk Zakaria Arshad, who resigned on Sept 18.

For now, FGV is seen to be in capable hands under Azhar, a trained chartered accountant, who more than fits the bill, given his vast experience in managing top plantation groups such as Sime Darby Bhd and Tradewinds Plantation Bhd, to steer the diversified planter out of the stormy weather.