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Sime Darby confirms Abdul Rahman will take over as chairman

KUALA LUMPUR (Aug 28): Permodalan Nasional Bhd (PNB) president and group chief executive officer (CEO) Datuk Abdul Rahman Ahmad will assume the role of chairman and non-independent non-executive director of Sime Darby Bhd upon Tan Sri Dr Wan Abdul Aziz Wan Abdullah's retirement on Oct 31 this year.

Diversified group Sime Darby said today in filings to Bursa Malaysia that Wan Abdul Aziz, 67, plans to retire "due to his health reasons".

Sime Darby said Abdul Rahman, 50, will be appointed non-independent non-executive director on Sept 1 before assuming the role of chairman on Oct 31.

The group's exchange filings confirmed The Edge Financial Daily's report today that Abdul Rahman is heading to Sime Darby, where PNB holds a 51.1% stake, as chairman soon.

The daily, quoting sources, reported that Jalil Rasheed, the investment director for the Singapore office of UK-based fund manager Invesco Ltd, is set to assume the group chief executive seat at PNB, the largest fund manager in Malaysia.

"Sources told The Edge Financial Daily the 38-year-old, who was formerly CEO of Aberdeen Islamic Asset Management, will take over from the current PNB CEO, Abdul Rahman, when the latter's contract expires end-September," it reported.

According to Sime Darby's Bursa filings today, Abdul Rahman started his career at Arthur Andersen, London and later served as special assistant to the executive chairman of Trenergy (M) Bhd/Turnaround Managers Inc (M) Sdn Bhd.

Subsequently, he joined Pengurusan Danaharta Nasional Bhd as unit head and later went on to become an executive director of SSR Associates Sdn Bhd.

"Abdul Rahman then assumed the post of group managing director/CEO of Malaysian Resources Corp Bhd and subsequently served the same position for Media Prima Bhd.

"Abdul Rahman was the CEO of Ekuiti Nasional Bhd before becoming the president and group CEO of PNB," said Sime Darby, whose diversified businesses include car dealerships besides hospital and port operations.

At 12:30pm today, Sime Darby's share price was up eight sen or 3.79% at RM2.19. The stock saw 6.91 million shares traded.

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