KUALA LUMPUR (May 11): Syed Md Najib Syed Md Noor is stepping down as Pos Malaysia Bhd's group chief executive officer (CEO) with effect from June 1, after serving the company for close to three years.
Pos Malaysia, in a statement, said the company is now searching for a suitable replacement.
Syed Md Najib was appointed to his post in October 2018, when there was a structural decline in mail volume and a major shift in consumer behaviour towards what Pos Malaysia termed as "digitally abled platforms".
He is the fifth CEO appointed by the group since the departure of Datuk Seri Syed Faisal Syed Ali Rethza Albar, who relinquished the group managing director cum CEO post in January 2012. Incidentally, Syed Faisal, who is group managing director of DRB-Hicom Bhd, is now Pos Malaysia's non-executive chairman following the resignation of Yasmin Mahmood from the post on April 1 after a two-year term.
Prior to Syed Md Najib, Al-Ishsal Ishak held the Pos Malaysia CEO post from Feb 2018 till Sept 2018, after taking over from Datuk Mohd Shukrie Mohd Salleh (Nov 2015 — Dec 2017), who succeeded Datuk Iskandar Mizal Mahmood (July 2013 — Feb 2015), who replaced
Datuk Khalid Abdol Rahman (January 2012 — January 2013).
According to Pos Malaysia, under Syed Md Najib's stewardship, various initiatives were employed and the success of which, among others, was the achievement of the integral postal tariff rebalancing, which was the second tariff increase in 28 years.
Commenting on his journey with Pos Malaysia, Syed Najib said working at Pos Malaysia with its postmen and Pos Laju employees has been a humbling experience. "My sincere thanks to the board, management and everyone in Pos Malaysia for the incredible support while I was group chief executive officer," added Syed Najib.
Pos Malaysia also thanked Syed Najib's contribution and said it respects his wish to step down, while wishing him well in his future endeavours.
Pos Malaysia shares closed two sen or 2.29% lower at 85.5 sen apiece today, valuing the group at RM669.27 million.