KUALA LUMPUR: Felda Global Ventures Holdings Bhd (FGV) group president and chief executive officer Datuk Zakaria Arshad and chief financial officer Ahmad Tifli Mohd Talha will only know of their fate in two months’ time.
In a filing to Bursa Malaysia today, FGV said the company have evaluated the explanation given by Zakaria and Tifli, and has formed an internal domestic inquiry panel to conduct a domestic inquiry against the two.
“The board has established an appropriate panel from within FGV Group whereby the members of the panel shall not consist any of FGV directors.
“During the domestic inquiry process, the board will not comment and/or interfere with the process,” it said.
FGV said the board shall only provide the necessary announcement when the panel has presented its findings to the board and a resolution has been reached.
“This process is expected to take approximately two months,” it said.
Besides that, FGV said the board has resolved to send a note of caution to the group president and CEO to remind him that during his leave of absence, he is still an employee of FGV and governed by the company’s Code of Business Conduct and Ethics for Employees.
FGV said under the code, Zakaria is prohibited from behaving in an immoral, unethical or irresponsible manner which may or have tarnished the group’s reputation or the reputation of any of the group’s employees and displaying insubordination or disobeying instructions received from superiors.