The board of directors of Proton Holdings Bhd group has announced yesterday that it will not renew CEO Tengku Tan Sri Mahaleel Tengku Ariff's contract. He will retire on Sept. 30 and goes on leave from today.
Mahaleel joined Proton in 1996 and was appointed CEO on April 1, 1997. I guess this announcement was expected as the differences between the CEO and the Board had been well publicized.
Despite the complaints and criticisms against him. it should be noted that, Proton moved from being only an assembler to a full fledged manufacturer of cars during his tenure. He made it into one of the most profitable companies in Malaysia.
Some people may argue that this was due to the fact that it had been supported/ protected by the government but several other companies, which received the same support/ protection were not that successful.
An four member interim executive committee (exco) has been established to assume the responsibility of the group CEO from today, pending the appointment of a new chief executive officer.
The exco comprises of:
-Datuk Mohammed Azlan Hashim (Proton Holdings chairman)
-Badrul Feisal Abdul Rahim (Proton board director)
-Datuk Kisai Rahmat (Proton’s director of operations )
-Datuk Kamarulzaman Darus (CEO of Proton Tanjung Malim Sdn Bhd)
The later two were named as joint chief operating officers (COOs),
Newspaper Reports:
- Star
- NST
Related Posts:
- Tengku Mahaleel in Trouble
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