KUALA LUMPUR: Boustead Holdings Bhd said its managing director (MD) Datuk Sri Amrin Awaluddin is leaving the company on Nov 15 to pursue other opportunities.
Boustead, in a statement today, said it has commenced the formal process of identifying a candidate for the MD position.
"The Board of Directors has full faith in the management team in managing the day-to-day operations of the Boustead Group, ensuring no disruption to the progress of the Company’s transformation initiatives that aim to transform Boustead into a sustainable and high-performance organisation by 2023," its chairman Datuk Seri Mohamed Khaled Nordin said.
He thanked Amrin for his leadership and contributions over the past year as MD.
"During this time, Boustead has seen significant positive transformation progress and secured its presence as a key player in the industry by serving our shareholders and various stakeholders in Malaysia," Mohamed Khaled said.
Amrin, the former boss at Sime Darby Property Bhd, joined Boustead on May 6, 2019.
The Armed Forces Fund Board (LTAT), Boustead's controlling shareholder, has announced its intention to take the company private.
Oct 28, LTAT had received the approval from the Securities Commission for a further extension until Feb 2,2021 to announce its firm intention on the proposed privatisation of its prized possession.
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