SC appoints Gumuri as AOB executive chairman

The Securities Commission has appointed Datuk Gumuri Hussain as executive chairman of the Audit Oversight Board (AOB).

KUALA LUMPUR: The Securities Commission (SC) has appointed Datuk Gumuri Hussain (pic) as executive chairman of Audit Oversight Board (AOB) effective Friday.

Announcing some senior appointments on Friday, the capital markets regulator said the former SC board member brought along more than 30 years of extensive experience from the audit, accounting and corporate sectors.

“He (Gumuri) was a senior partner and deputy chairman of governance board of PricewaterhouseCoopers Malaysia, chairman of SME Bank, and managing director and chief executive officer of Penerbangan Malaysia Bhd,” it said in a statement.

Gumuri, 70, is a fellow of the Institute of Chartered Accountants in England and Wales, a member of the Malaysian Institute of Accountants and the Malaysian Institute of Certified Public Accountants. 

On Friday Gumuri resigned from the board of Media Prima Bhd and Metrod Holdings Bhd. His executive appointment in SC requires him to resign from all his directorships in public listed companies.

The AOB is an independent body that regulates auditors in the country. Its first executive chairman Nik Mohd Hasyudeen Yusoff, who held the position for six years, stepped down in March after his contract ended.
The SC also announced several internal promotions within the leadership team. These included the appointment of Zainal Izlan Zainal Abidin as managing director of market development and Islamic markets, and of general counsel Foo Lee Mei as chief regulatory officer. Foo will oversee general counsel, corporate governance and consumer & investor office. 

Eugene Wong will be managing director of corporate finance and investments and also oversee accounting matters, while Kamarudin Hashim will be executive director of intermediary and fund supervision and will oversee consolidated risk analysis.
In addition, the SC appointed Sharifatul Hanizah Said Ali as the chief executive officer of its training and development arm, Securities Industry Development Corp (SIDC).

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