PUTRAJAYA — June 19, 2017: Tan Sri Isa Samad has voluntarily relinquished his position as Felda Global Ventures Holdings chairman and will be replaced by retired senior civil servant Tan Sri Dr. Sulaiman Mahbob.
Isa however has been appointed acting chairman of the Land Public Transport Commission (SPAD) also with immediate effect.
In announcing this today, Prime Minister Datuk Seri Najib Razak said he had earlier met with Isa and former Minister in the Prime Minister’s Department Datuk Seri Idris Jala to discuss FGV’s future and Isa’s role.
“Isa voluntarily agreed to relinquish his position as FGV chairman. In appreciation of Isa’s role, I agreed to appoint him the acting SPAD chairman,” Najib told reporters after handing over keys to owners of the 1M Public Servants Housing Programme (PPA1M) Selasih here today.
Najib said that internal action will be taken to determine the legal process and through the FGV inquiry board, the decisions against the FGV Chief Executive Officer Datuk Zakaria Arshad and three other senior executives who were asked to go on leave recently.
“This is necessary as it represents the governance principle of a public listed company. The investigation does not mean they are guilty. The FGV board will make a just decision as soon as possible,” he added.
According to Najib, the restructuring reflects the government’s desire to place FGV on a firm footing and ensure a bright future for the company.
Asked why Sulaiman was named acting chairman, he said: “This is until we make a final decision. We needed a quick change. If a new person is appointed by the board, it will take a while. We want FGV to operate uninterrupted.”
Sulaiman, 68, was an independent non-executive director of FGV as well as chairman of Telekom Malaysia and the Minority Shareholders Monitoring Group, Malaysian Institute of Economic Research and Jambatan Kedua Sdn. Bhd.
He has vast experience, having served the government for over 38 years, including as director-general of the Economic Planning Unit and secretary-general of the then Ministry of Domestic Trade and Consumer Affairs. — Bernama