KUALA LUMPUR (Jan 27): Pharmaniaga Bhd chairman Datuk Seri Shazalli Ramly will be redesignated as non-independent director, with Datuk Seri Zainal Abidin Mohd Rafique to take the former’s place.

According to filings made with the bourse, the change will be effective Feb 1, 2022. The group did not elaborate further on the change.

Incoming chairman Zainal Abidin, who is the Bukit Bintang UMNO division chief, holds several directorships currently, including in Boustead Petroleum Marketing Sdn Bhd, Clock Tower Hotel Sdn Bhd, and QI - pmc Sdn Bhd.

In a separate filing, the group also announced the redesignation of independent director Zulkifli Jaafar as executive director.

Shazalli was appointed the non-independent non-executive chairman of the pharmaceutical group on March 1, 2021, making headlines after he was appointed managing director of Boustead Holdings Bhd three months prior.

He was also appointed to the board of Boustead Heavy Industries Corp Bhd as a non-independent and non-executive director.

Prior to his current posts, he was managing director and chief executive officer (CEO) of Telekom Malaysia Bhd from April 2017 to June 2018. Before that, he was regional CEO and corporate executive vice president of Axiata Group Bhd from 2016 to 2017.

From 2005 to 2016, he was also CEO and director of Celcom Axiata Bhd. Other notable stints included being on the board of Malaysia Airline System Bhd and Proton Holdings Bhd’s special task force.

At noon market break, Pharmaniaga fell 0.5 sen or 0.7% to 71 sen for a market capitalisation of RM930.07 million.