KUALA LUMPUR (Feb 5): MBM Resources Bhd has appointed Muhammad Fateh Teh Abdullah, the former head of automotive distribution division of Hicom Holdings Bhd, as its new president and chief executive officer (CEO) with effect from Monday (Feb 8).

Fateh, 50, has 23 years of experience in the automotive industry and has gained diverse experience in sales and marketing, distribution, strategic planning and business development, according to the company’s statement today.

He started his career at the Federation of Malaysian Manufacturers and moved on to join various automotive groups such as UMW Holdings Group of Companies, Perodua Sales Sdn Bhd and Hicom Holdings Bhd.

“Fateh brings with him an abundance of experience in the automotive industry and we have confidence that he will be able to lift MBMR to greater heights,” said the automotive group’s chairman Datuk (Dr) Aminar Rashid Salleh.

“He will also be involved in the implementation of the key initiatives under our Transformation Programme. We look forward to having him on board,” he added.

With the appointment of Fateh as the group’s new president and CEO, Annie Chin will cease to be the group’s acting president and CEO and will resume her position as the group’s chief financial officer.

MBM Resources’ shares were up two sen or 0.63% to close at RM3.22 today, valuing the counter at RM1.26 billion. Over the past year, the counter slipped some 17.44% from RM3.90. Still, it has recovered some of its losses and gained some 27.8% from last year’s low of RM2.52.