“We have recently informed FGV that we are nominating three names as our representatives on FGV’s board”
KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) could be set for a major boardroom shakeup soon.
The shakeup could see Federal Land Development Authority (Felda) putting three of its representatives on the FGV board.
This was disclosed to NST by Felda chairman Tan Sri Shahrir Abdul Samad today.
He said Felda, as the single largest shareholder of FGV, but with no representation, is concerned with the reported boardroom tussle.
“We have recently informed FGV that we are nominating three names as our representatives on FGV’s board.
“Our interest is to see the continued momentum in cost savings and cutting unnecessary expenditure. There had been some progress but a boardroom tussle can negatively affect this cost reduction,” he said.
“Good governance is important, too. Board decisions should not be arbitrarily compromised. Responsibility and accountability at company and group levels should be clear and distinguishable,” he added.
“We reserve our comments on individual members of FGV board. Whatever will be the final outcome, we want the best for Felda,” Shahrir said.
Currently, the nine board members of FGV are chairman Tan Sri Mohd Isa Abdul Samad, chief executive officer Datuk Zakaria Arshad, Datuk Dr Omar Salim, Datuk Yahaya Abd Jabar, Datuk Siti Zauyah Md Desa, Datuk Noor Ehsanuddin Mohd Harun Narrashid, Tan Sri Dr Sulaiman Mahbob, Datuk Mohamed Suffian Awang and Datuk Mohd Zafer Mohd Hashim.
Source: NST Online