This article first appeared in The Edge Financial Daily on March 19, 2019

KUALA LUMPUR: Chemical Company of Malaysia Bhd (CCM) has appointed Datuk Idris Kechot (pic) as its non-independent and non-executive chairman effective yesterday.

Idris, 64, was the deputy president and group chief operating officer of Permodalan Nasional Bhd (PNB), overseeing the asset management department until Dec 31, 2018.

He replaced 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 also currently holds directorships in Projek Lintasan Kota Holdings Sdn Bhd, Perusahaan Otomobil Kedua Sdn Bhd, 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 is suitable with his extensive knowledge and expertise to further strengthen CCM’s growth.

CCM’s share price fell two sen or 1.05% to RM1.89 yesterday, valuing the group at RM316.95 million.