PNB appoints Jalil Rasheed as new CEO

Current head Rahman to replace retiring Sime Darby chairman Wan Abdul Aziz

by NUR HAZIQAH A MALEK/ graphic by TMR

PERMODALAN Nasional Bhd (PNB) named Jalil Rasheed (picture) as the fund’s new CEO effective Oct 1, while its current head Datuk Abdul Rahman Ahmad is named as Sime Darby Bhd chairman effective Oct 31 this year.

PNB said in a statement yesterday that Jalil Rasheed’s appointment is in line with the government’s wish to make optimal use of Malaysian global talents, and consistent with PNB’s strategic initiative to diversify its assets globally.

He is currently the CEO of the South Asian operations for Invesco Ltd, a leading global investment firm managing more than US$1.2 trillion (RM5.05 trillion) across a multiple range of asset classes in over 25 countries.

Abdul Rahman will leave his current position as the state-owned fund’s president and CEO upon the completion of his contract on Sept 30.

“On behalf of the directors on the board of PNB, as well as the management and staff, I would like to thank Abdul Rahman for his invaluable contribution to PNB and its group of companies during his three-year tenure here,” PNB chairman Tan Sri Dr Zeti Akhtar Aziz said in the same statement.

“We look forward to continue working together with him in his new role at Sime Darby.”

In a separate media statement, Sime Darby said Abdul Rahman will succeed Tan Sri Dr Wan Abdul Aziz Wan Abdullah who is expected to retire from the group’s board effective Oct 31 due to health reasons.

Sime Darby group CEO Datuk Jeffri Salim Davidson said the board of directors and senior management team of the company expressed its gratitude to Wan Abdul Aziz for his leadership in the past years.

“We look forward to a smooth transition of board leadership under Abdul Rahman’s direction,” he said in the statement.

Abdul Rahman will be assuming the group’s chairman position after joining the group’s board of directors on Sept 1.

He also sits on the Velesto Energy Bhd’s board, and previously held the position of Ekuiti Nasional Bhd director and CEO.

Abdul Rahman was also the group MD and CEO of Media Prima Bhd.

He also sat in the leading position at a Malaysian conglomerate, Malaysian Resources Corp Bhd as group MD/CEO. As of the end of May, PNB has a total asset of RM301.4 billion with Abdul Rahman and former PNB chairman Tan Sri Abdul Wahid Omar revealing plans in 2016 to grow the assets to RM350 billion by 2022.

Meanwhile, Wan Abdul Aziz first joined the group as a director and a member of several board committees in 2012, prior to taking up the chairman role in November 2017.

He previously held various senior positions in the Finance Ministry, such as the secretary general of treasury whereby he was appointed in 2007, and also a position in the Prime Minister’s Department’s Economic Planning Unit.

Sime Darby is one of PNB’s key companies, in which it owns a 52% stake.