KUALA LUMPUR (March 18): Chemical Company of Malaysia Bhd (CCM) has appointed Datuk Idris Kechot as its non-independent and non-executive chairman with effect from today.

Idris, 64, had served as Permodalan Nasional Bhd's (PNB) deputy president and group chief operating officer, overseeing the asset management department, until Dec 31, 2018.

He replaces Datin Paduka Kartini Abdul Manaf, CCM's non-independent and non-executive director who was appointed the acting chairman from July last year, following Datuk Normala Abdul Samad's resignation as chairman.

Idris currently also holds directorships in Projek Lintasan Kota Holdings Sdn Bhd (Prolintas), Perusahaan Otomobil Kedua Sdn Bhd (Perodua), Pelaburan Hartanah Nasional Bhd and Goodyear Malaysia Bhd.

"He has a proven track record of successfully leading PNB, one of the largest fund management companies in Malaysia," CCM said in a statement.

"As a key player in the chemical and polymer industries in Malaysia, CCM is seeking an experienced and results-oriented individual with strong leadership skills and a keen strategic mindset to elevate the group to greater heights," said the group, adding that Idris fits the bill as he brings a wealth of knowledge and expertise to further strengthen CCM's growth trajectory.

At 3.30pm, CCM's share price was unchanged at RM1.91, valuing the group at RM318.39 million.