TENGKU ZAFRUL RESIGNS AS CIMB GROUP CEO

AZLEE NOR MAHMUD

KUALA LUMPUR, March 9 (Bernama) -- Tengku Datuk Seri Zafrul Aziz, who was today appointed as Finance Minister, has resigned as CIMB Group Holdings Bhd's group chief executive officer (CEO) and CIMB Bank Bhd CEO with immediate effect.

Tengku Zafrul has also resigned from all other board positions on the same date, the banking group said in a statement today.

The CIMB Group board has appointed Omar Siddiq, currently the group chief operating officer, as officer-in-charge for CIMB Group and CIMB Bank Bhd, with immediate effect.

“The board has begun its succession plan,” it said.

CIMB Group chairman Datuk Mohd Nasir Ahmad said Tengku Zafrul had served the group for six years, after rejoining in 2014.

“He has done an outstanding job, shaping CIMB’s transformation under our T18 and Forward23 strategic plans. His energy and commitment to CIMB will be difficult to match but he leaves behind a better organisation with a stronger footing where he has united and instilled a strong CIMB culture.

“On behalf of the board, I would like to thank Tengku Zafrul for all his contributions to the group and wish him well in his next role,” said Mohd Nasir.

Tengku Zafrul's appointment as Finance Minister in the new cabinet line-up is considered historic as the powerful and influential post was normally reserved for a senior figure within the ruling political party.

On many occasions, the Prime Minister also held the post of Finance Minister. 

-- BERNAMA

 

TAGS: Tengku Zafrul Aziz, CIMB Group, Finance Ministry, Appointment, Omar Siddiq