Zeti apppointed PNB group chairman, takes over from Wahid

he former Bank Negara governor said retailers must pass on the benefits to consumers. She also noted that the zero-rated tax had boosted spending among the people.

KUALA LUMPUR: Former Bank Negara Malaysia (BNM) governor Tan Sri Dr Zeti Akhtar Aziz will be appointed group chairman of Permodalan Nasional Bhd (PNB) with effect from July 1.

Zeti is presently one of the members of the Council of Eminent Persons, entrusted to advise the Government on matters pertaining to economic and financial matters.

StarBiz reported that Tan Sri Abdul Wahid Omar had on Friday retired as PNB group chairman.

Abdul Wahid was appointed PNB chairman following the completion of his term as a senator and Minister in the Prime Minister's Department in charge of the Economic Planning Unit from June 2013 to June 2016.

Prior to his Cabinet appointment, Abdul Wahid was the president and chief executive officer (CEO) of Malayan Banking Berhad (Maybank) from May 2008 until June 2013.

Maybank was the third major organisation that he has led as CEO. He was also group CEO of Telekom Malaysia Bhd from July 2004 until its de-merger with Axiata Group Bhd in April 2008.

Below is the statement issued by PNB:

KUALA LUMPUR, 29 June 2018 – Yayasan Pelaburan Bumiputra (YPB) today announced that Minister of Finance Incorporated (MOF Inc) has informed that YAB Tun Dr. Mahathir Mohamad, the Prime Minister, has assumed the position of Chairman of YPB with effect from June 28, 2018.

Pursuant to the appointment, the composition of the Board of Trustees of YPB has been restructured to comprise YB Dato' Seri Mohamed Azmin Ali, Minister of Economic Affairs (appointed also as the Alternate Chairman of YPB), Tan Sri Dr. Zeti Akhtar Aziz, former Governor of Bank Negara Malaysia and Tan Sri Dato' Setia Ambrin Buang, former Auditor-General of Malaysia.

At the same time, Permodalan Nasional Berhad (PNB), the investment subsidiary for YPB, announced that Tan Sri Abdul Wahid Omar is retiring as the Group Chairman of PNB and Trustee of YPB with effect from June 30, 2018.

The Board of Directors of PNB would like to take the opportunity to thank Tan Sri Abdul Wahid for his invaluable contribution and dedicated service as the Group Chairman of PNB.

PNB appreciates the leadership provided by Tan Sri Abdul Wahid and the guidance that he has provided to the Board and Management of PNB, and its investee companies since his appointment in August 2016.

During his time with PNB, Tan Sri Abdul Wahid has set a roadmap for PNB to achieve three broad mandate deliverables; delivering enhanced sustainable returns for PNB's portfolio, increasing Bumiputera economic wealth and participation, and utilising part of PNB's gains for socially impactful initiatives.

The Board of PNB also announced that Datuk Dr. Awang Adek Hussin will be retiring as Director of PNB and Chairman of PNB Research Institute Sdn Bhd. effective June 30, 2018.

The Board wishes to thank Datuk Dr. Awang Adek for all his contributions during his tenure with PNB Group.

It is also announced that Tan Sri Dr. Zeti will be appointed as the Group Chairman of PNB with effect from July 1, 2018. Tan Sri Dr. Zeti is presently one of the members of the Council of Eminent Persons, entrusted to advise the Government on matters pertaining to economic and financial matters.

The Boards of YPB and PNB welcome the appointment of Tan Sri Dr. Zeti and expressed confidence that given her longstanding and vast experience, she will continue to provide strong leadership to the PNB Group in pursuing its founding mandate to enhance corporate wealth for the benefit of Malaysians.

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