CIMB Group Holdings Bhd, Malaysia’s second largest financial services provider, has announced the stepping down of Datuk Abdul Rahman Ahmad as its group CEO on June 30 after having served the group for four years since 2020.
CIMB Group also announced that to facilitate the transition, its group chairman Datuk Mohd Nasir Ahmad who was originally due to retire in July 2024 upon completion of his nine-year tenure as a board director will remain as group chairman.
But Mohd Nasir will be re-designated as non-independent non-executive director in line with good corporate governance effective July 20 following approval from regulatory authority on the renewal of his tenure.
“Abdul Rahman has done an excellent job, driving CIMB’s transformation under our Forward 23+ strategic plans and has been instrumental in putting CIMB on a solid footing as a leading focused ASEAN bank,” commented Mohd Nasir in a media statement.
“Under Abdul Rahman’s leadership, the CIMB Group recorded strong growth in financial performance, strengthened operating resiliency, accelerated its digital initiatives, raised the bar for sustainability as well as helped instill a strong CIMB culture.”
Following the stepping down on Abdul Rahman, CIMB Group has activated “a robust succession plan” with its board poised to announce a new group CEO “in due course once regulatory approval is received”.
“On behalf of the board, I would like to thank Abdul Rahman for all his contributions to CIMB Group and we wish him well in his next role,” added Mohd Nasir.
CIMB Group had a market capitalisation of approximately RM62.4 bil as of end-December 2023.
At the close of today’s mid-day trading, CIMB Group was down 4 sen or 0.61% to RM6.54 with 18.57 million shares traded, thus valuing the bank at RM69.8 bil. – April 16, 2024
