ABDUL Rahman Ahmad, who is former president and group CEO of Permodalan Nasional Bhd (PNB), has been appointed to helm CIMB Group Holdings Bhd.

CIMB Group, in a statement today, said Rahman has been chosen for the posts of group CEO/executive director of CIMB, and CEO/executive director of CIMB Bank Bhd.

He replaces Tengku Zafrul Tengku Abdul Aziz, who relinquished his position at the bank after being made finance minister in March.

Rahman’s appointment takes effect on June 10.

“I am delighted to welcome Rahman, an experienced CEO who has excelled at strategic leadership and execution,” said CIMB chairman Mohd Nasir Ahmad in a statement.

“With more than 20 years in leadership roles across several industries, Rahman has demonstrated a strong track record in organisational transformation, driving results, and strengthening operational risk and compliance, as well as innovation, amid a rapidly evolving landscape.”

He said Rahman will bring a fresh perspective and continue CIMB’s transformation and efforts to build on its successful Asean franchise.

“I would like to thank the board for conducting a rigorous and comprehensive (selection) process. We are confident that backed by the experienced senior leadership team of CIMB, Rahman will be able to bring the group forward with renewed purpose during these challenging times,” said Nasir.

Rahman currently serves as non-executive chairman of Sime Darby and Velesto Energy Bhd.

Prior to joining PNB, he served as group managing director/CEO of Malaysian Resources Corporation Bhd and Media Prima Bhd.

He helped establish Ekuiti Nasional Bhd, a government-linked private equity firm, serving as its CEO for seven years.

He holds a master’s degree in economics from Cambridge University, and is a member of the Institute of Chartered Accountants in England and Wales. – May 29, 2020.