KUALA LUMPUR (Nov 27): Boustead Holdings Bhd has appointed Datuk Seri Mohammed Shazalli Ramly as its group managing director (MD), effective Dec 1, 2020, after the position was vacated by Datuk Seri Amrin Awaluddin, confirming a previous report by theedgemarkets.com.
Quoting sources, theedgemarkets.com reported on Nov 6 that Mohammed Shazalli would likely replace Amrin as group MD.
Mohammed Shazalli previously served as the MD and chief executive officer (CEO) of Telekom Malaysia Bhd, after a stint as regional CEO and corporate executive vice president of Axiata Group Bhd.
He also served as the CEO of Celcom Axiata Bhd from 2005 to 2016, during which Celcom achieved 31 quarters of uninterrupted consecutive growth with double-digit growth in revenue and net profit.
He was also previously on the boards of several prominent organisations, including Malaysia Airline System Bhd and Proton Holdings Bhd’s Special Task Force.
“We are confident that with Datuk Seri Mohammed Shazalli’s notable professional experience and proven track record in corporate transformation and performance management, his leadership for the group will be able to steer Boustead to new heights.
“Datuk Seri Mohammed Shazalli joins our ranks at an opportune time, with our transformation initiatives going into full swing. His renowned expertise and sharp business acumen during our transformation journey certainly augurs well for the Group’s business prospects,” said Boustead chairman Datuk Seri Mohamed Khaled Nordin.
He added that Mohammed Shazalli’s appointment reinforces the conglomerate’s commitments to its lenders, government stakeholders, institutional and public shareholders and the thousands of employees across its diversified operations.
“Boustead continues its transformation journey steadily towards the goal of becoming a high-performance and sustainable organisation by 2023,” said Mohamed Khaled.
Amrin, who left Boustead on Nov 15, is said to be headed for Lembaga Tabung Angkatan Tentera (LTAT) to take over the CEO post at the armed forces pension fund. The post has been left vacant since Sept 30, following the resignation of Nik Amlizan Mohamed.
On announcing Amrin's departure earlier this month, Boustead did not give any reason other than saying it was to allow him to pursue other opportunities.
Boustead shares rose 0.5 sen or 0.8% to 62.5 sen today, giving it a market capitalisation of RM1.27 billion.