KUALA LUMPUR (March 11): Boustead Holdings Bhd deputy group managing director Izaddeen Daud is among four new appointments to the board of subsidiary Boustead Plantations Bhd.
Izaddeen, as well as Boustead Holdings group finance director Fahmy Ismail and the group’s chief reinvention and strategy officer Ahmad Shahredzuan Mohd Shariff, have been named as non-independent non-executive directors of the plantation company.
Meanwhile, Datuk Mustaffar Kamal Abdul Hamid has been appointed as an independent non-executive director, Boustead Plantations said in a statement.
The group said Izaddeen, 52, also sits on the board of Boustead Heavy Industries Corp Bhd, Pharmaniaga Bhd, Boustead Properties Bhd, UAC Bhd and Olympia Industries Bhd.
Boustead Plantations said Izaddeen brings with him invaluable experience from his 30-year career in the investment and banking sector. He holds a Bachelor of Accounting & Law from De Montfort University, United Kingdom.
Meanwhile, Fahmy, 44, has held various leadership roles throughout his 22-year career, including as the CEO of Boustead Plantations and Boustead REIT Managers Sdn Bhd. He holds a Bachelor of Commerce in Accounting and Finance from University of Sydney.
Ahmad Shahredzuan, 38, has in the past 15 years, held various positions in Permodalan Nasional Bhd and McKinsey & Company. He holds a Bachelor of Economics from University of Warwick, United Kingdom.
Boustead Plantations said Mustaffar Kamal, 67, possesses a wealth of experience in the plantation sector, spanning more than 30 years. He graduated from Universiti Malaya with a Bachelor’s Degree of Arts (Honours) in Economics.
Commenting on the new appointments, Boustead Plantations chairman Datuk Ismail Lasim said the team is the right fit to support the ongoing growth of the company and the execution of its strategic plan, which encompasses its mission to meet the expectations of its shareholders.
Boustead Holdings group managing director Datuk Seri Mohammed Shazalli Ramly said the appointments of the group’s senior management personnel onto the board of Boustead Plantations is part of its wider effort to ensure the agenda of Reinventing Boustead is properly cascaded to its subsidiary companies.
“These board appointments are also part of Boustead’s effort to train its senior management team, and to identify any synergies with other companies within the Boustead Group.
“We at Boustead Holdings believe the future of Boustead Plantations lies in its ability to harness and implement technology and digital solutions into this normally traditional business. In these coming months, we hope to share examples where Boustead Plantations is leveraging technology and digital solutions towards improving its business performances,” Shazalli said.
Shares of Boustead Plantations closed two sen or 3.45% higher at 60 sen today, valuing the plantation company at RM1.34 billion.