Mainstream
Zakaria may leave FGV
Khairul Khalid | 06 Oct 2017 00:30
Announcement on Zakaria’s future has been delayed since September

The management turmoil plaguing Felda Global Ventures Holdings Bhd (FGV) seems closer to a conclusion with the reinstatement of three senior managers, but the biggest issue of an absentee CEO remains unresolved.

A source tells FocusM that head honcho Zakaria Arshad, who was asked to go on leave in June, could be falling out of favour and is likely on the way out, regardless of the outcome of the internal probe on alleged discrepancies.

“It looks unlikely at this moment that Zakaria will retain his position as CEO of FGV, regardless of the results of the domestic inquiry. He might be cleared of the allegations but it looks like the company is leaning towards having a new man in charge.”

The source adds that FGV could be exploring its options in view of Zakaria’s possible exit from the top post, including offering him another job in the group or negotiating his departure which could involve compensation-related matters.