KUALA LUMPUR (Oct 5): Tune Protect Group Bhd has appointed Datuk Mohamed Khadar Merican as the insurer’s chairman, effective immediately.

He succeeds Ng Siek Chuan, who will be redesignated as a non-independent director following the expiry of his nine-year term of office.

In a statement on Tuesday, Tune Protect said Mohamed Khadar has with more than 40 years of experience in financial and general management.

He served as an auditor and a consultant in an international accounting firm, before joining a financial services group in 1986.

Between 1988 and April 2003, he held various senior management positions — including as president and chief operating officer — in then Pernas International Holdings Bhd, a Bursa Malaysia-listed company.

Tune Protect said that in 2013, Mohamed Khadar, in his capacity as chairman of RHB Capital Bhd, was named “Chairman of the Year” by the Minority Shareholders Watch Group at its ASEAN Corporate Governance Index Awards.

Mohamed Khadar is a fellow of the Institute of Chartered Accounts in England and Wales and a chartered accountant of the Malaysian Institute of Accountants.

He is also a director of AirAsia Group Bhd, BNP Paribas Malaysia Bhd and Iris Corporation Bhd.

Tune Protect’s share price closed unchanged at 46 sen on Tuesday, valuing the company at RM342 million.