TM appoints new acting group CEO as Bazlan quits

Imri’s appointment is a natural progression, according to TM’s group chairman

By FARA AISYAH / Pic By ISMAIL CHE RUS

Telekom Malaysia Bhd (TM) acting group CEO Datuk Bazlan Osman resigned last Friday with current COO Imri Mokhtar (picture) assuming the role of acting group CEO with effect from Nov 16, 2018.

In an exchange filing last Friday, the telecommunications company (telco) said Bazlan has also given notice of his resignation as ED which will take effect on Feb 28, 2019.

Group chairman Tan Sri Dr Sulaiman Mahbob said Imri is a TM homegrown talent with a strong background in strategy and business operations, and is currently overseeing the business operations of the group.

“Imri’s appointment as acting group CEO is a natural progression of the responsibilities he is presently carrying and his main role, together with the leadership bench, will be to effectively execute the strategic initiatives planned to assist TM in navigating through the current challenges and position us in a more resilient, competitive and sustainable footing,” he said in the statement.

Imri was the executive VP of UniFi. He brings over two decades of experience in business strategy and operations from the communications and media industry.

He first started his career with TM in 1996 and re-joined TM in 2005. He had served in various positions in TM including programme and performance management office VP and executive VP (consumer).

Prior to re-joining TM in 2005, he was at a pay-TV operator in Malaysia and before
that, a consultant at a global management consulting firm.

He sits on the boards of several subsidiaries within the purview of the UniFi business cluster including webe digital Sdn Bhd and as chairman of TM Info-Media Sdn Bhd and Telekom Sales & Services Sdn Bhd.

TM’s shares closed at RM2.38 last Friday, down six sen or 2.46% from its previous close, giving it a market capitalisation of RM8.94 billion.

TM has seen its share prices plunging about 58% this year and losing more than RM14.8 billion in market capitalisation from its 52-week high of RM6.50 on Dec 22, 2017, as investors worry that the largest broadband operator will continue to see its earnings squeezed.

Profit at the government-linked company is set to be squeezed further as the government pushes to lower broadband prices by 25% by year-end.

TM seems to be taking the lion’s share of the impact as the government calls for telcos to double the speed of fixed broadband services, while cutting prices by half.