TDM CEO resigns over conflict with chairman

TDM CEO resigns over conflict with chairman
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KUALA LUMPUR (Nov 27): TDM Bhd CEO Zainal Abidin Shariff (pictured) has resigned from the position with immediate effect, over disagreements with its chairman.

In a bourse filing, the oil palm planter and healthcare operator said Zainal Abidin, 53, submitted his letter of resignation yesterday and the group accepted it today. He was appointed as CEO on April 1, 2019.

TDM said Zainal Abidin and group chairman Raja Datuk Idris Kamarudin disagreed over trade contract issues, practices and queries involving its subsidiary’s palm oil trading activities.

“The board is currently taking the appropriate action to find a suitable interim candidate to take over the duties, roles and responsibilities of the Group CEO of the company and will make the appropriate announcement in due course,” the group said.

TDM’s main shareholder is Terengganu Incorporated Sdn Bhd, which is controlled by the Terengganu state government.

TDM shares finished 1.92% or half a sen higher at 26.5 sen today, valuing the group at RM456.56 million. The counter saw 7.3 million shares transacted.

S Kanagaraju