KUALA LUMPUR (July 20): Felda Global Ventures Holdings Bhd (FGV) has appointed its chief operating officer of logistics and others sector Datuk Khairil Anuar Aziz to take over the duties and responsibilities of suspended group president and chief executive officer (CEO) Datuk Zakaria Arshad with immediate effect.

Khairil, a second generation Felda settler, has been with FGV since 2012.

In a filing with Bursa Malaysia today, the plantation giant said that at the same time, its board executive committee chaired by FGV director Datuk Omar Salim, with members comprising director Datuk Mohd Zafer Mohd Hashim alongside its head of logistics cluster Azman Ahmad, has been disbanded.

The board executive committee was formed following the suspension of Zakaria on June 6, pending an internal investigation over alleged accounting irregularities at Delima Oil Products Sdn Bhd, which had dealings with Dubai-based firm Safitex Trading LLC.

Zakaria was suspended along with FGV chief financial officer Ahmad Tifli Mohd Talha and two other senior offices.

The board executive committee was to temporarily take over Zakaria's role, whereas FGV's plantation sector group financial controller Aznur Kama Azmir was appointed as interim CFO.

On June 7, the Malaysian Anti-Corruption Commission began an investigation on FGV after Zakaria claimed the presence of abuse of power and corruption in the group's operations. The investigation is still ongoing.

Amid the boardroom tussle, FGV chairman Tan Sri Isa Samad, who Zakaria said triggered the suspension, exited the group on June 20 under the orders of the Prime Minister's Department. Taking over Mohd Isa Abdul Samad's role as acting chairman is another FGV director, economist Tan Sri Dr Sulaiman Mahbob.

On July 4, FGV said its board of directors decided to refer Zakaria and Tifli to a domestic enquiry panel after evaluating and considering their replies to show-cause letters on the irregularities.

On July 17, Sulaiman said the domestic enquiry should resolve its internal issues by Aug 14.

Shares in FGV closed two sen lower or 1.19% at RM1.66 today with 7.54 million shares traded, for a market capitalisation of RM6.06 billion.