KUALA LUMPUR (May 29): CIMB Group Holdings Bhd has appointed Datuk Abdul Rahman Ahmad as its chief executive officer (CEO) and executive director (ED) effective June 10.

Rahman, who is the former CEO of Permodalan Nasional Bhd (PNB), will also be the CEO and ED of CIMB Bank Bhd. He is currently the non-executive chairman of Sime Darby Bhd and Velesto Energy Bhd.

This confirms an earlier report by theedgemarkets.com.

Rahman replaces Tengku Datuk Seri Zafrul Abdul Aziz, who relinquished his post to join the government as the minister of finance.

“I am delighted to welcome Datuk Rahman, an experienced CEO who has excelled at strategic leadership and execution,” said CIMB chairman Datuk Mohd Nasir Ahmad in a statement today.

With more than 20 years in leadership roles across several industries, he noted that Rahman has demonstrated a strong track record in organisational transformation, driving results, strengthening operational risk and compliance, and innovation amid a rapidly evolving landscape.

“As the industry undergoes fundamental changes, he will bring a fresh perspective to lead CIMB’s continued transformation and build upon its successful Asean franchise,” he added.

“I would like to thank the board for conducting a rigorous and comprehensive process. We are confident that backed by the tenured and experienced senior leadership team of CIMB, Datuk Rahman will be able to bring the group forward with renewed purpose, during these challenging times,” said Nasir.

CIMB noted that Rahman started his career at Arthur Andersen, London and worked at Trenergy (M) Bhd, Turnaround Managers Inc (M) Sdn Bhd and Pengurusan Danaharta Nasional Bhd.

He was appointed as the group managing director and CEO of Malaysian Resources Corp Bhd and subsequently served the same position for Media Prima Bhd where he successfully turned around and transformed the group into a leading integrated media investment entity.

Later, Rahman helped to establish Ekuiti Nasional Bhd, a government-linked private equity firm, serving as its CEO for seven years before being appointed in 2016 as the president and group CEO of PNB.

Shares of CIMB rose 26 sen or 7.41% to close at RM3.77 today, valuing it at RM37.41 billion. Year-to-date, the counter's share price has fallen 27% from RM5.15.

Read also:
Ex-PNB CEO Rahman tipped to be CIMB CEO