Mohammed Che Hussein to replace Ahmad Mohd Don as chairman of Hap Seng Plantations

-A +A

KUALA LUMPUR (April 12): Hap Seng Plantations Holdings Bhd has appointed Datuk Mohammed Che Hussein as independent and non-executive chairman of the group effective May 31.

He replaces former Bank Negara Malaysia (BNM) governor Tan Sri Ahmad Mohd Don, who will be stepping down on May 29 after having served in the role for almost 12 years.
Ahmad will also relinquish his position as chairman of the group's remuneration committee and member of the audit and nominating committee on the same day.

In a filing with Bursa Malaysia today, Hap Seng Plantations said Mohammed's career spans 31 years in Malayan Banking Bhd (Maybank), where he held various senior management positions including head of corporate banking, head of commercial banking and head of Malaysian operations.

He was also managing director of Aseambankers Malaysia Bhd (now known as Maybank Investment Bank Bhd) and executive director of business group. The last position held prior to his retirement in 2008 was as deputy president and executive director cum chief financial officer of Maybank Group.

Mohammed, 68, is also a director of Hap Seng Consolidated Bhd, Gamuda Bhd, Tasek Corp Bhd and Bank of America Malaysia Bhd.

In a separate filing, Hap Seng Plantations said Ahmad, 71, has extensive experience in finance and banking, having worked in various capacities with Pernas Securities Sdn Bhd, Permodalan Nasional Bhd and Maybank.

He was the group managing director and chief executive officer (CEO) of Maybank from 1991 to 1994 before assuming the position of governor of BNM from May 1994 to August 1998.

The group will also see its independent and non-executive director Datuk Jorgen Bornhoft retiring on May 29. Bornhoft, 77, has been serving in that role for almost 12 years.

Following his retirement, he will also relinquish his position as chairman of nominating committee and a member of the audit committee.

Bornhoft joined as CEO of Carlsberg Brewery Malaysia Bhd in 1991 and assumed the position of managing director from 1995 to 2002. Later, he was appointed as chairman of the brewery from 2002 to 2005.

Prior to him joining Carlsberg Malaysia, he was the vice-president of Carlsberg International A/S, Denmark responsible for foreign subsidiaries and new projects. Bornhoft was also the president of the Malaysian International Chamber of Commerce and Industry from 1996 to 1999.

Hap Seng Plantations shares closed 1.16% or two sen lower at RM1.70 today, with 19,000 shares changing hands, bringing a market capitalisation of RM1.38 billion.