KUALA LUMPUR: RHB Capital Bhd (RHBCap) has identified a successor to assume the role of  group managing director (MD) and group chief executive officer (CEO) following the resignation of the incumbent, Kellee Kam Chee Khiong, on Feb 12.

“A successor has been identified. The board will now proceed to seek approval from Bank Negara Malaysia (BNM) to appoint the said successor. An announcement will be made upon receipt of BNM’s approval,” said RHBCap (fundamental: 1.5 valuation: 2.1) in a statement yesterday.

Kam will step down as group CEO on May 4 this year but he will continue to carry out his responsibilities until then. Meanwhile, in the group’s filing with Bursa Malaysia yesterday, RHBCap said Kam will also retire as the MD of RHBCap, pursuant to Article 80 of the Company’s Articles of Association, at the forthcoming 20th annual general meeting (AGM), to be scheduled tentatively in April 2015, and that he will cease office as group MD/MD of RHBCap at the conclusion of the 20th AGM. It added that its board has approved the appointment of Datuk Khairussaleh Ramli, the current MD of RHB Bank Bhd/deputy group MD to be the acting group CEO/group MD in Kam’s absence.

This article first appeared in The Edge Financial Daily, on March 6, 2015.