FGV appoints former Bursa CEO Yusli to its board

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KUALA LUMPUR (Sept 6): FGV Holdings Bhd, formerly known as the Felda Global Ventures Holdings Bhd, has appointed former Bursa Malaysia Bhd chief executive officer Datuk Yusli Mohamed Yusoff, and Datin Hoi Lai Ping to its board.

At the same time, FGV has also re-designated Datuk Yahaya Abdul Jabar as an independent non-executive director, from a senior independent non-executive director.

"Pursuant to the re-designation of Datuk Yahaya Abd Jabar to be independent non-executive director, he shall relinquish his position from chairman of nomination and remuneration committee to member of nomination and remuneration committee," FGV, the world's largest crude palm oil producer, said in a filing with Bursa Malaysia.

Subsequently, FGV has appointed Yusli as chairman of the nomination and remuneration committee.

Meanwhile, FGV added that Yahaya has also resigned from the board's audit committee, and his seat was replaced by Hoi, a chartered accountant and graduate from Monash University in Australia.

Currently, Hoi is a director of Zurich Life Insurance Malaysia Bhd.

It is worth noting that FGV's appointment of Yusli and Hoi followed its Aug 28, 2018 statement, which said the group is embarking on an initiative to strengthen the board, drawing from specialists in the plantation industry, corporate governance and turnaround management.

At noon break, FGV shares slipped 2 sen or 1.33% and paused at RM1.49, for a market capitalisation of RM5.44 billion.