Ahmad Fuaad to step down as Proton CEO


Proton Holdings Berhad CEO Datuk Ahmad Fuaad Kenali will step down from his post effective September 30 this year.

In a statement today, Proton Holding’s parent company DRB-Hicom Bhd said the group MD, Datuk Seri Syed Faisal Albar will continue with his key role as the overall chairman of Proton Holdings.

“He has done an impeccable job in his short tenure at PHB. Under his watch, Proton had rolled-out four new models in a span of eight short months. He also played a vital role in closing PROTON’s search for a suitable FSP (foreign strategic partner),” Syed Faisal said in the statement.

“The need for an FSP in PROTON was one of the key priorities of DRB-Hicom at the point of our acquisition of PHB in 2012”, he added.

Fuaad was appointed as CEO of PHB on April 1 last year 2016, after assuming the position of COO /Senior Group Director of DRB-Hicom in 2013.

Last week DRB-Hicom said the group’s priority is to prepare a solid foundation for the car- maker under the new partnership with the Chinese shareholder, and that it is not ready to make any new announcements since the deal was signed.

The statement was made in response to to the speculation of major personnel changes in Proton management.

Market talk has tapped Geely’s Li Chunrong as the new Proton CEO, following a news report in China’s Xinhua news agency.

Li, 53, was previously Dongfeng Honda Engine Co Ltd deputy GM and is believed to have joined Chinese automaker Geely to oversee operations at Proton following the buy over.