Bakke says to retire from Sime Darby in two years

Sime Darby

KUALA LUMPUR: Sime Darby Bhd group president and chief executive officer Tan Sri Mohd Bakke Salleh has indicated plans to retire in about two year’s time, after the conglomerate’s corporate restructuring exercise is fully completed.

Speaking on the sidelines of Sime Darby’s financial results for the fourth quarter ended June 30, 2017, Bakke said while the board has decided for him to stay on for a couple of years, he hoped to step down after the plantation division’s listing goes through a smooth transition.

“God willing, this will happen (retirement) in two years’ time after the listing of Sime Darby’s property and plantation arms, which are targeted to take place by end November,” Bakke said.

In July, the conglomerate announced the leadership line-up for its three pure plays, which will see the listing of its plantation and property divisions separately to unlock the values for the group.

Bakke will take on the position of executive deputy chairman and managing director of Sime Darby Plantation Bhd, while the chairman’s post will be held by Tan Sri Abdul Ghani Othman.

Asked whether he considered this a demotion, Bakke said:

“I am not a central figure in this corporate restructuring exercise. Looking at my own career plan, I am already in my 60s and I have decided to stay on because I want to see through the completion of this exercise and where we can take the plantation business through the transitional period. 

“After that, I will pass the baton to younger candidate. We are looking at someone in the mid or late 40s or early 50s to be the chief executive officer or managing director,” he said.