CIMB Group Succession Plan in Progress

12 March 2020

Kuala Lumpur: CIMB Group Holdings Berhad (“CIMB” or “the Group”), announced today that it has activated its succession plan for the role of Group CEO and CEO, CIMB Bank Berhad. The appointment is to replace YBM Tengku Dato’ Sri Zafrul Tengku Abdul Aziz, who relinquished his position to join the Malaysian government as the Minister of Finance. This process will be managed by the Board with the appointment subject to the approval of Bank Negara Malaysia.

Datuk Mohd Nasir Ahmad, Chairman of CIMB Group said, “To ensure the robustness of the plan, we will be looking at a range of qualified candidates.  The candidate needs to be visionary with a proven track-record and the strategic expertise to steer our Group, especially as we navigate increasingly challenging market conditions. We look forward to complete the process as soon as possible.”

“In the interim, the senior management team, with the full support of the Board, will ensure our business moves forward and execute all plans laid out under our mid-term growth strategy, Forward23. Together, we will continue to meet our customers’ needs during these uncertain economic conditions,” added Datuk Nasir.