KUALA LUMPUR: Wan Nadiah Wan Mohd Abdullah Yaakob says she has been dismissed as group CEO of TMC Life Sciences Bhd
and CEO of Thomson Hospital Kota Damansara, but will be exploring all available options to a fair resolution, including seeking legal recourse.
In a statement, Wan Nadiah, 40, confirmed she had received a letter from the board of directors on Dec 10, dismissing her from the company she had led as CEO since 2017.
This comes a day after shareholders ousted her from the board of directors following the passing of a resolution at an extraordinary general meeting (EGM) held on Dec 9, 2024.
During the EGM called for by two of the company's largest shareholders, 41.3% of shareholders who were present holding 0.02% of voting shares rejected the resolution while 58.7% of present shareholders holding 99.98% voted in support of the resolution to remove her as an executive director.
Wan Nadiah, who was suspended by the board on Jan 29, 2024, was first served with a showcause letter containing six allegations. The number of allegations was expanded to 15, before being dropped to eight, and then further reduced to five.
A domestic inquiry held by TMC Life Sciences subsequently found Wan Nadiah guilty of allegations of misconduct. In a Dec 4 announcement, the company said it would determine appropriate disciplinary action in light of the findings.
Wan Nadiah said in her statement she was disappointed with the turn of events leading to her departure from the company.
"My performance as CEO speaks for itself. Revenue in FY17, (when I joined the company), had more than doubled from RM151.7mil to RM311.4mil in FY23, whilst profit after tax increased from RM26mil to RM39.3mil.
"For the same period, earnings per share also increased from 1.5sen to 2.25sen. These were achieved despite the very challenging Covid pandemic which disrupted our hospital operations from April 2020 to January 2022," she said.
According to her, the allegations made against her were related to the termination of agreements made with Great Eastern Life Assurance (M) Bhd and Allianz Life Insurance Malaysia Bhd, as well as the company's entry into an ICT works agreement with T-Systems Malaysia Sdn Bhd.
Wan Nadiah said while she recognised and accepted her duties and obligations as CEO of TMC Life Sciences and Thomson Hospital, she did not consider it "fair, reasonable or legally acceptable" that the company should hold her solely responsible for the issues related to her expulsion.
Wan Nadiah confirmed that she has not been accused of any crime, criminal breach of trust, financial mismanagement or issues related to her integrity. In addition, she said she "firmly denied" all the allegations of misconduct made against her.
"I do not want to speculate as to the reasons behind these actions which have negatively impacted the reputation of both myself and the company," she said, adding that she will be pursuing the matter according to due process.
