KUALA LUMPUR (April 29): Boustead Holdings Bhd has refuted speculation that its group managing director (MD) Datuk Seri Mohammed Shazalli Ramly is leaving to head Lembaga Tabung Angkatan Tentera (LTAT), while his deputy Izaddeen Daud is poised to take over his role, as untrue.
“Both [Shazalli] and [Izaddeen] have put in place various plans and initiatives to Reinvent Boustead and they look forward to carry them through,” it said in a statement today.
The group was responding to a report by theedgemarkets.com yesterday regarding widespread speculation on the next chief executive of the armed forces pension fund, after it was announced that its current head Datuk Seri Amrin Awaluddin will join Lembaga Tabung Haji (TH) as its new group MD and chief executive officer (CEO) on May 6.
He will succeed Datuk Nik Mohd Hasyudeen Yusoff, who will step down as its board member, group MD and CEO effective May 5.
Amrin’s impending departure from LTAT comes barely four months after his appointment on Jan 4.
He had replaced Nik Amlizan Mohamed, who left to join Kumpulan Wang Persaraan (Diperbadankan) last September after two years at LTAT.
Boustead shares closed on Wednesday 2.5 sen or 4.07% lower at 59 sen, giving it a market capitalisation of RM1.19 billion.
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Amrin Awaluddin appointed as Tabung Haji’s new group MD, CEO
