fbpx
Connect with us

News

Two of Najib’s Brothers Announce Resignation From CIMB & Petra Energy on Same Day

Published

on

Two Of Najib's Brothers Announced Their Resignation On The Same Day - World Of Buzz 1
Source: Reuters & FMT

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

2018 has been a year filled with resignations, with a significant number of high-ranking CEOs from Malaysia’s top companies giving up their positions over the past few months. Now, news of two more resignations has just surfaced.

Just yesterday (24th September), a press release revealed that CIMB Group chairman and brother of former prime minister Najib Razak, Dato’ Sri Nazir Razak, will be stepping down from his position as of 31st December 2018.

According to CIMB’s statement on the matter, a succession plan will now take place to determine who the next chairman will be as well as the date of this person’s takeover.

Meanwhile, Nazir Razak also took to Instagram to express his gratitude and his future plans. An excerpt from his post reads,

“I am 52 years young. It is time for me to commit fully to my next mission on the ASEAN stage.”

View this post on Instagram

The sun is setting on my time in CIMB. I just announced that I will step down as Chairman of CIMB by 31st December 2018. The Board will now activate its succession plan to decide on the next Chairman and the exact date of handover. Over the last 29 years, I have had the privilege of a front row seat on the amazing CIMB journey from fledgling corporate finance franchise to leading Malaysian investment bank to an ASEAN universal bank. Thank you CIMB, #teamCIMB and #CIMBalumni. After our CEO transition in 2014 and then success of T18, CIMB is now financially strong, organisationally robust and firmly institutionalised. My CIMB mission is accomplished and final affirmation of success will come with my departure and CIMB continue grow from strength to strength. I am 52 years young. It is time for me to commit fully to my next mission on the Asean stage.

A post shared by Nazir Razak (@nazir.razak) on

On the same day, Najib’s brother,  Datuk Mohamed Nizam Razak, also announced that he would be resigning as director of Petra Energy Bhd. According to the New Straits Times, Datuk Nizam, who owns 29.25 million shares in Petra Energy, decided to resign to pursue other business ventures.

News of his resignation came a few hours after that of his brother, Nazir Razak, surfaced.

What are your thoughts on these recent resignations? Let us know in the comments below. 

 

Also read: 5 Malaysian Heads & CEOs Who Unexpectedly Resigned Since May 2018

5 Malaysian Heads & Ceos Who Have Resigned In The Past Month - World Of Buzz 5


Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.



Just In

Wfewfewfwe Wfewfewfwe
News1 hour ago

Road to 20k? Malaysia Breaks Record Again With 19,819 New Covid-19 Cases

Malaysia breaks records once again with 19,819 new Covid-19 cases as of 4 August. This means that cases have skipped...

Pjimage 2021 08 04T131433.803 Pjimage 2021 08 04T131433.803
News3 hours ago

LIVE NOW: Pandalela Rinong & Jun Hoong Compete In 10m Diving Preliminary For Tokyo Olympics

Best of luck to our athletes! Diving queens, Pandalela Rinong and Cheong Jun Hoong are diving in the preliminary round...

Pjimage 2021 08 04T123736.245 Pjimage 2021 08 04T123736.245
News4 hours ago

JUST IN: Muhyiddin Yassin Is STILL Prime Minister, Vote Of Confidence To Be Held In September

In his announcement today, Prime Minister, Tan Sri Muhyiddin Yassin announced that after discussion with his MP and the YDPA,...

Pm Announce Pm Announce
News4 hours ago

LIVE NOW: PM Muhyiddin Addresses The Nation After Meeting With Agong

Prime Minister Tan Sri Muhyiddin Yassin is addressing the nation in a live press conference now. This comes after his...

Pjimage 8 Pjimage 8
News4 hours ago

JUST IN: PM Muhyiddin Yassin To Address The Nation Live At 12.30pm (4 August)

Taking to Facebook, Prime Minister Muhyiddin Yassin has announced that he will be having a live press conference at 12.30pm...

Man Swimming In The Sea Part2 Man Swimming In The Sea Part2
News7 hours ago

Man Who Failed To Swim Across Penang Strait To Meet Friend Tries Again On Styrofoam Raft

The 28-year-old man who tried to swim across the Penang Strait to meet his friend because he failed to get...

Pjimage 2021 08 03T183409.414 Pjimage 2021 08 03T183409.414
News22 hours ago

JUST IN: UMNO Revokes Support From PN Government, Muhyiddin Loses Majority Vote

While the country came to a minor standstill last week after the YDPA essentially called out the Perikatan Nasional government...

Shamsul Shamsul
News22 hours ago

JUST IN: Shamsul Anuar Resigns As Minister Of Energy & Natural Resources

Datuk Seri Dr Shamsul Anuar Nasarah has resigned from his position as Minister of Energy and Natural Resources as of...

Announcement

Latest Videos



TRENDING TODAY