Bakke to helm Felda after Megat Zaharuddin — sources

KUALA LUMPUR (June 26): Tan Sri Mohd Bakke Salleh is expected to be the candidate for the next chairman of the Federal Land Development Authority (Felda) to replace Tan Sri Megat Zaharuddin Megat Mohd Nor, according to sources.

The Edge Financial Daily understands that Mohd Bakke, who will be retiring as the managing director (MD) of Sime Darby Plantation Bhd on June 30, has been put forward as the top contender to helm the government agency.

Felda announced in a statement yesterday that Megat Zaharuddin’s resignation effective June 30, confirming a report by The Edge Financial Daily.

His resignation comes just after 11 months since his appointment on July 27 last year.

Meanwhile, Mohd Bakke, 64, had earlier announced his decision to retire from Sime Darby Plantation after serving the group for nine years.

If he assumes the role of chairman, Mohd Bakke will be taking on the challenge to manage the government agency’s RM8 billion debt as well the planned recovery plan which includes a proposed RM6 billion injection by the government.

Bakke, who is regarded as a veteran in the plantation industry, joined the Sime Darby group as its acting president and group chief executive officer (CEO) on July 15, 2010, after previously serving as FGV Holdings Bhd (then Felda Global Ventures Holdings Bhd) group president and CEO.

He took up the job in FGV in January 2009. He later assumed the position of president and group CEO of Sime Darby Bhd on Nov 27, 2010, a position he held until Nov 20, 2017.

Subsequently, from Nov 21, 2017, he assumed the role of the executive deputy chairman and MD of Sime Darby Plantation till retirement.

This article first appeared in The Edge Financial Daily, on June 26, 2019.

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