Zafrul is new Finance Minister

Tengku Datuk Seri Zafrul Tengku Abdul Aziz was appointed the new Finance Minister on Monday.

KUALA LUMPUR: Tengku Datuk Seri Zafrul Tengku Abdul Aziz, who has been appointed the new Finance Minister on Monday, has resigned as group CEO of CIMB Group Holdings Bhd and CEO of CIMB Bank Bhd.

His resignation from the banking group came into immediate effect, CIMB said in the statement.

Zafrul has also resigned from all other board positions on the same date.

The appointment of Zafrul was announced by Prime Minister Tan Sri Muhyiddin Yassin when he unveiled his new Cabinet.

The chairman of CIMB Group Holdings, Datuk Mohd Nasir Ahmad said: “Tengku Zafrul has served the group for six years, when he re-joined in 2014.

“He has done an outstanding job, shaping CIMB’s transformation under our T18 and Forward23 strategic plans.

“His energy and commitment to CIMB will be difficult to match but he leaves behind a better organisation with a stronger footing where he has united and instilled a strong CIMB culture.”

Nasir said that on behalf of the board, he thanked Zafrul for all his contributions to the Group and wished him well in his next role.

The CIMB Group board appointed Omar Siddiq, currently the group chief operating officer, as officer-in-charge for CIMB Group and CIMB Bank Bhd, with immediate effect.

“The board has begun its succession plan, ” he said.

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