Izzaddin Idris to leave Axiata effective May 31

by AZREEN HANI/ pic by MUHD AMIN NAHARUL

Axiata Group Berhad (Axiata) announces that Datuk Izzadin Idris will step down from his position as President & Group Chief Executive Officer (Group CEO) effective 31 May 2022.

According to Axiata, his resignation is based on a mutual cessation of his service contract between him and the company.

Read more: Axiata posts RM42mil net loss on forex losses

The board of the group has appointed Axiata’s Chief Executive Officer for its Telecommunications Business and Group Executive Vice President Dr Hans Wijayasuria, and Group Chief Financial Officer Vivek Sood as interim joint acting Group CEOs effective 1 June 2022.

They will retain their current positions and portfolios.

The Board does not expect to make additional structural or senior leadership changes in the near-term.

 “The Board thanks Dato’ Izzaddin for his wisdom, leadership and contributions in steering the Group over the past two years. He took the helm on 1st January 2021 at the height of the COVID-19 crisis, after serving as Deputy Group CEO since January 202,” Axiata’s Chairman Tan Sri Shahril Ridza Ridzuan said in a statement today.

“He has been instrumental in shaping the Group’s strategic response to secure stability and business continuity in the face of daunting and unprecedented challenges across many aspects of our operations.”

Shahril Ridza said tthat Axiata has always had a strong culture of succession planning and we are committed towards ensuring a smooth transition and preserving the momentum Axiata has achieved thus far with the Axiata 5.0 Vision.

“The appointment of Dr Hans Wijayasuria and Vivek Sood as joint acting Group CEOs will ensure continuity in this situation.”

“In the appointment of Dr Hans and Vivek as joint Group CEOs, we have two industry stalwarts who are very familiar with Axiata’s businesses. They are both strongly grounded in our culture and deeply committed to the success of our ventures.”

The telecommunication recorded a net loss of RM42.97 million for the first quarter ended March 31, 2022 (1QFY22) from a net profit of RM75.56 million a year earlier ago on significant foreign exchange losses.

Its revenue, however, rose 6.69% to RM6.47 billion in 1QFY22 from RM6.06 billion in the same quarter last year driven by contributions from all of its operations, except for Nepal.