Bursa Malaysia’s ex-CEO Yusli and Hoi appointed to FGV board

PETALING JAYA: FGV Holdings Bhd, which announced recently that several board members and management executives, both past and present, were being investigated, has appointed former Bursa Malaysia Bhd CEO Datuk Yusli Mohamed Yusoff ( pix) and Datin Hoi Lai Ping as independent and nonexecutive directors.

Yusli, 59, was also appointed chairman of FGV’s nomination committee.

Hoi, 57, was appointed a member of the audit committee. She has been a board member of Zurich Life Insurance Malaysia Bhd since 2013.

Meanwhile, Datuk Yahaya Abd Jabar, 65, has been redesignated as independent and non-executive director and has resigned from the audit committee.

Yahaya, who was chairman of the nomination committee, has also been redesignated as a member of the nomination committee. He was Malaysia’s ambassador to the United Arab Emirates from 2008 till 2011.

With the changes, which are effective immediately, the nomination committee now comprises two members, namely Yahaya and independent non-executive director Datuk Mohamed Suffian Awang, with Yusli as the chairman.

The audit committee, headed by independent non-executive director Datuk Mohd Anwar Yahya, also has two members, namely Hoi and nonindependent non-executive director Datuk Siti Zauyah Md Desa.

On Monday, FGV chairman Datuk Wira Azhar Abdul Hamid said several members of the board and management are being investigated as part of its probe into transaction and investment decisions and business practices.

Azhar said the group is waiting for its lawyers to finalise their opinion and advise them on the next step.

On Tuesday, Reuters reported that three top executives, namely,COO of plantations Palaniappan Swaminathan, chief human resources officer Mohd Najib Yahya and chief procurement officer Abdul Razak Yunus, resigned at the end of August. FGV is yet to address the issue.