Thursday 28 Mar 2024
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KUALA LUMPUR (Feb 6): There is to be a management reshuffle at CIMB Group Holdings Bhd, said sources.

At least three key individuals plan to leave their management roles and are likely to take on other roles within the group, while new appointments are expected to be made, the sources added.

“There was a board meeting last week, where it was revealed that there could be quite a few leaving management. But they are likely to emerge in other roles within the group,” one of the sources tells theedgemarkets.com.

It is understood that CIMB (fundamental: 1.35; valuation: 2.1) could announce the management changes and new appointments as early as today. Analysts expect acting chief executive officer (CEO) Tengku Datuk Zafrul Aziz to be confirmed as CEO.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

 

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