TM drops 5.88% after announcing corporate changes

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KUALA LUMPUR (Nov 19): Telekom Malaysia Bhd (TM) shares fell 5.88% this morning after the utility giant last Friday said its acting group chief executive officer Datuk Bazlan Osman had resigned with immediate effect and given notice of his intention to step down as executive director with effect from Feb 28, 2019.

At 10.58am today, TM fell 14 sen to RM2.24, in line with the decline of the broader market.

TM's chief operating officer Imri Mokhtar has assumed the role of acting chief executive officer with immediate effect.

Bazlan had been appointed to helm the company in June following the resignation of its previous CEO Datuk Seri Mohammed Shazalli Ramly.