This article first appeared in The Edge Financial Daily, on January 22, 2016.

KUALA LUMPUR: NCB Holdings Bhd, which operates Northport in Port Klang, Selangor, and Kontena Nasional Bhd, has appointed former Petroliam Nasional Bhd (Petronas) president and chief executive officer (CEO) Tan Sri Shamsul Azhar Abbas (pic) as its non-independent and non-executive chairman.

Shamsul, 63, replaces Tun Ahmad Sarji Abdul Hamid, 77, who has held the position for over 15 years, following the exit of AmanahRaya Trustees Bhd and Permodalan Nasional Bhd (PNB) as NCB shareholders.

Ahmad Sarji became director and chairman of NCB on Sept 8, 2000. The former chief secretary to the government is currently the chairman of PNB.

In a separate filing with Bursa Malaysia yesterday, NCB also announced the resignation of Abi Sofian Abdul Hamid, 53, as its group managing director, citing “other commitments”. NCB did not reveal who will replace him.

Abi Sofian was appointed to his post on Sept 1, 2014. Prior to that, he was appointed CEO of Northport (Malaysia) Bhd in April 2012.

Ahmad Sarji’s and Abi Sofian’s departure from NCB comes one day after MMC Corp Bhd completed the acquisition of a 53.42% stake in NCB from PNB and AmanahRaya Trustees for RM1.11 billion or RM4.40 per share. This brings MMC’s total stake to 96.88%.

Shamsul, who served as president and CEO of Petronas from Feb 10, 2010 to March 31, 2015, began his career with the national oil major in 1975, during which he held various senior management positions including vice-president (VP) of logistics and maritime business, VP of exploration and production business, VP of oil business and VP of petrochemical business.

Shamsul also previously served as chairman of Petronas Carigali Sdn Bhd, and as president and CEO of MISC Bhd before becoming its chairman.

In several filings with Bursa Malaysia yesterday, NCB also announced the departure of eight directors, namely Nik Mustapha Nik Mohamed, Datuk Halipah Esa, Datuk Zuraidah Atan, Datuk Idris Kechot, Datuk Abdul Aziz Hasan, Datuk Ramlan Abdul Rashid, Yip Jian Lee and Datuk Seri Dr Arshad Hashim.

However, it saw three new directors join the board, namely former state secretary of Kedah Datuk Paduka Moh Puat Moh Ali, Tradewinds (M) Bhd group managing director Datuk Mohammad Zainal Shaari and Malakoff Corp Bhd director Datuk Idris Abdullah.