KUALA LUMPUR: Daya Materials Bhd deputy group chief executive officer (CEO) Rayburn Azhar Ali has stepped down from his post effective Aug 13 to pursue other interests.

In a filing with Bursa Malaysia yesterday, the oil and gas (O&G) sector service provider said Rayburn, 45, had been heading the group’s downstream O&G division for the past seven years.

According to the filing, Rayburn resigned from his post as he wanted to pursue other interests, but did not give details.

According to its Annual Report 2014, the group’s appointment of Rayburn as deputy group CEO was one of the many boardroom changes in the group.

Datuk Lim Thean Shiang, 45, was appointed as group CEO on March 24, while Aminuddin Arif was appointed as an independent director.

Accordingly, the group also redesignated Nathan Tham Jooi Loon as its executive vice-chairman, while promoting Rayburn to deputy group CEO.

“With these personnel upgrades, we are confident that we now have a solid, competent and forward-looking team to help us transform Daya Materials into a high-growth and profitable organisation it once was,” its annual report read.

Shares in Daya Materials (valuation: 0.9; fundamental: 0.55) closed unchanged at 10 sen yesterday, with a market capitalisation of RM165.18 million.

This article first appeared in digitaledge Daily, on September 15, 2015.