KUALA LUMPUR (Nov 30): Tan Sri Che Lodin Wok Kamaruddin will relinquish four top positions in Armed Forces Fund Board (LTAT)-controlled public listed companies by end-December.

The 69-year-old corporate leader will be vacating his positions as group managing director at Boustead Holdings Bhd, vice chairman at Boustead Plantations Bhd, executive chairman at Boustead Heavy Industries Corp Bhd (BHIC) and non-executive chairman at Pharmaniaga Bhd.

Filings with Bursa Malaysia showed that these changes are due to early mutual termination of Lodin's service agreement with Boustead Holdings, which is the holding company for the other three entities.

These boardroom changes came after Lodin stepped down as LTAT chief executive officer in September, and as deputy chairman at Affin Holdings Bhd, a financial group controlled by LTAT, on Oct 28.

Lodin has been serving as Boustead managing director since 1991, and helming LTAT since 1985.

Boustead Holdings' share price closed three sen or 2.07% higher at RM1.48 today, giving it a market capitalisation of RM3 billion. The counter lost 48.8% year-to-date from its closing price of RM2.89 on Dec 29 last year.

Boustead Plantations declined 0.5 sen or 0.58% to settle at 86 sen today, valuing the group at RM1.93 billion.

BHIC closed unchanged at RM1.33, with a market capitalisation of RM330.45 million.

Pharmaniaga dropped four sen or 1.33% to close at RM2.96, valuing the group at RM771.1 million.