Maybank chairman to step down at the end of the month

Senior executive to retire after 12 years as part of the company’s board and eight years as chairman

Maybank chairman to step down at the end of the month

Insurance News

By Gabriel Olano

Tan Sri Megat Zaharuddin Megat Mohd, chairman of Malayan Banking Bhd (Maybank), will be stepping down from his post, effective March 31, 2017, after 12 years with the company’s board.
Megat Zaharuddin, 67, has been the company’s chairman since 2009, and he will be succeeded by Datuk Mohaiyani Shamsudin, who has been on the board since August 2011 as a member of the credit review and risk management committees.
Mohaiyani is the current chairwoman of Maybank Investment Bank, a position she has held since March 2016. She is also chairwoman of Maybank Kim Eng Holdings. Once she takes the reins of the group, she will be the first-ever female leader of Malaysia’s largest publicly traded company.

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“I am confident that the group will continue creating value in the years ahead, particularly in this fast changing operating landscape where differentiated service and innovation will be key drivers of success,” Megat Zaharuddin said, adding that it has been an honour and privilege to serve on the board of Maybank.
Prior to Megat Zaharuddin’s appointment as chairman, he was an independent non-executive director of Maybank from July 2004 to February 2009.
He also spent 31 years in the oil and gas industry as part of the Royal Dutch Shell Group of Companies and was regional business CEO and managing director of Shell Exploration and Production B.V. before retiring in early 2004.
Aside from banking, Maybank also has significant presence in the insurance industry, offering life, general, and takaful insurance products under the Maybank and Etiqa banners.

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