Sulaiman Mahbob replaces Mohd Isa as FGV chairman

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KUALA LUMPUR (June 19): Felda Global Ventures Holdings Bhd (FGV) announced today the appointment of Tan Sri Dr Sulaiman Mahbob, 68, as acting chairman of the group effective immediately.

He is currently an independent and non-executive director of FGV.

In a separate filing with Bursa Malaysia today, FGV said Tan Sri Mohd Isa Abdul Samad, 67, has resigned as its non-independent, non-executive chairman, citing "to focus on his personal undertakings". Mohd Isa resumed his current post on Jan 1, 2011.

Meanwhile, Bernama quoted Prime Minister Datuk Seri Najib Razak as saying that Isa Samad has been appointed as acting chairman of  Land Public Transport Commission (SPAD).

In a statement today, FGV, which has been in the limelight for alleged irregularities in its activities, said its board and management will focus their efforts to enhance corporate governance and improve financial performance of the group.

FGV shares ended the morning session up 9 sen or 5.11% at RM1.85, with 16.1 million shares done. Its market capitalisation stood at RM6.49 billion.