Leadership change is part of a robust succession plan at Bursa Malaysiaby Fara Aisyah

By FARAH AISYAH

Datuk Muhamad Umar Swift (picture) will succeed Datuk Seri Tajuddin Atan as CEO of Bursa Malaysia Bhd effective Feb 11, 2019.

Muhamad Umar has resigned as CEO/group MD of MAA Group Bhd effective Feb 8, 2019, ahead of assuming his new role, an exchange filing by MAA yesterday noted.

Bursa Malaysia noted the leadership change decision is part of a robust succession plan the company has to ensure it benefits all stakeholders.

Bursa Malaysia chairman Tan Sri Amirsham Abdul Aziz said he has full confidence Muhamad Umar will provide great leadership and build on the transformational initiatives spearheaded by Tajuddin.

“His experience will bring a refreshed perspective for Bursa Malaysia and I am confident he will continue to spearhead the exchange towards its next phase of accelerated growth of becoming a leading, responsible and globally-connected Asean marketplace,” he said in a statement yesterday.

Muhamad Umar has over 22 years of experience in banking and financial services.

Tajuddin joined Bursa Malaysia as CEO in April 2011. His term is due to end in March next year.

Tajuddin’s departure is another in a series of top management changes initiated by the Pakatan Harapan government at government-linked companies and government- linked investment companies in the past few months.

Among the notable changes include Permodalan Nasional Bhd chairman Tan Sri Abdul Wahid Omar replaced by former central bank governor Tan Sri Dr Zeti Akhtar Aziz.

Petroliam Nasional Bhd chairman Tan Sri Mohd Sidek Hassan had also completed his term and left the state-owned energy company, while the energy company’s director Datuk Mohd Omar Ong Mustapha also left.

Changes at various management levels have occurred at Bank Negara Malaysia (BNM), Khazanah Nasional Bhd, Telekom Malaysia Bhd (TM), Malaysia Resources Corp Bhd and the Federal Land Development Authority (Felda).

Tan Sri Muhammad Ibrahim tendered his resignation as BNM governor after the government revealed proceeds from a land deal between the central bank and the previous Barisan Nasional- led government were used to pay 1Malaysia Development Bhd’s debt.

TM CEO Datuk Seri Mohammed Shazalli Ramly had also resigned from the telecommunications service provider.

Seasoned politician Tan Sri Shahrir Abdul Samad resigned his chairmanship of Felda, while  Lembaga Tabung Haji’s (TH) former chairman Datuk Seri Abdul Azeez Abdul Rahim, group MD and CEO Datuk Seri Johan Abdullah and deputy CEO Datuk Badlisyah Abdul Ghani have also left the pilgrim fund.

TH has since lodged two reports with the Commercial Crime Investigation Department against Abdul Azeez, former CEOs Tan Sri Ismee Ismail and Johan, as well as four current top officers.