Shazalli resigns as TM group CEO

PETALING JAYA: A slew of resignations are under way among high-profile Malaysians holding top positions in government-related entities.

Fresh from the official resignation of Bank Negara governor Tan Sri Muhammad Ibrahim, government-linked company Telekom Malaysia Bhd (TM) has confirmed that its group chief executive officer, Datuk Seri Mohammed Shazalli Ramly, has resigned effective yesterday.

This was following an earlier news report by Bloomberg on Shazalli’s possible departure.

The telecommunications player announced that Shazalli’s deputy, Datuk Bazlan Osman, had been appointed as the acting group CEO on the same day.

Apart from Shazalli, the group’s independent non-executive director Datuk Seri Fateh Iskandar Mohamed Mansor has also submitted his resignation, which takes effect on June 8.

In a filing with Bursa Malaysia yesterday, TM said Fateh Iskandar resigned to pursue other interests. Fateh Iskandar is currently the CEO of Glomac Bhd and the president of the Real Estate and Housing Developers’ Association Malaysia.

On separate developments, it was also reported yesterday that Petroliam Nasional Bhd (Petronas) chairman Tan Sri Mohd Sidek Hassan and independent non-executive director Datuk Mohd Omar Mustapha were set to relinquish their positions in the national oil company soon.

In a report later in the evening, Astro Awani quoted Omar himself as saying that he had resigned from the board of Petronas effective June 30.

“I was appointed as an independent non-executive director of Petronas on Sept 15, 2009. According to Petronas’ code of governance, an independent non-executive director may only hold the position for a maximum of nine years,” he told Astro Awani.

However, as at press time, it remained unsure whether Sidek had also tendered his resignation.

Meanwhile, Reuters also reported yesterday that the government was mulling replacing Datuk Seri Tajuddin Atan as the CEO of Bursa Malaysia.

His term at Bursa Malaysia officially ends in March next year.

It is worth noting that Tajuddin and Petronas chairman Sidek were part of the Royal Commission of Inquiry to investigate the Bank Negara foreign-exchange trading losses in the 1990s.