Zakaria Arshad returns as FGV president and CEO after being suspended for 4 months

posted in: ASEAN | 0

PETALING JAYA: Felda Global Ventures Holding Bhd (FGV) will see Datuk Zakaria Arshad resuming his duties as group president/CEO next Monday (Oct 16), after being on leave of absence since June 6, 2017.

The group said in a filing with the stock exchange that after taking into consideration the ongoing FGV transformation program and the group president and CEO's commitment and assurance to resolve the long outstanding debt of Safitex Trading LLC, the Minister of Finance (Incorporated) (MoF Inc) would like Zakaria to return as the FGV president and CEO.

FGV stressed that the domestic inquiry (DI) has been carried out with proper internal processes consistent with MoF Inc'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 MoF Inc in line with Article 80 of FGV's Memorandum and Articles of Association and the MoF Inc has taken time to review before making its decision,” it added.

FGV shares rose one sen to close at RM1.72 yesterday on some 8.23 million shares done.