Mohd Imran Tan Sri Mohamad Salim will be re-designated as group managing director with effect from July 2.
KUALA LUMPUR: Malaysian Resources Corporation Bhd
announced that its current executive director Mohd Imran Tan Sri Mohamad Salim will be re-designated as group managing director with effect from July 2.
It announced to Bursa Malaysia on Wednesday that Tan Sri Azlan Zainol will be re-designated as an independent chairman of the construction-property group.
“Tan Sri Mohamad Salim has expressed his intention to retire as the group managing director of the company,” it said.
It said the changes were to comply with Practice 4.1 of the Malaysian Code On Corporate Governance (MCCG) where at least half of the board of directors of a listed company should comprise independent directors.
MRCB also said the MCCG also stated that for large companies, where their market capitalisation exceed RM2bil, the majority of the board should comprise of independent directors.
Presently, five out of the company’s eight directors are non-independent directors, and only three are independent directors.
Under the changes which take effect on July 2, there will be four independent directors: Tan Sri Azlan Zainol will be the independent chairman, Jamaludin Zakaria a senior independent director while Hasman Yusri Yusoff and Toh Puan Janet Looi Lai Heng are independent directors.
Datuk Shahril Ridza Ridzuan and Rohaya Mohammad Yusof will be the non-independent non-executive directors and Mohd Imran group managing director.
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