KUALA LUMPUR: Bursa Malaysia Bhd
has confirmed that its board is actively working on the chief executive officer (CEO) succession process amid speculation about Datuk Muhamad Umar Swift’s tenure.
“Bursa Malaysia has in place a talent development and succession plan which considers both internal and external candidates as potential future leaders of the company.
“In this respect, the board of Bursa Malaysia, through its nomination and remuneration committee, is currently embarking on CEO succession. An announcement will be made by the company when the matter is finalised,” the stock exchange operator said in a filing with Bursa Malaysia.
The clarification follows reports suggesting that Umar, the current CEO and executive director, may step down, with Datuk Fad’l Mohamed, managing director of group wholesale banking at RHB Bank Bhd, named as a possible successor.
