FELDA Global Ventures Holdings Bhd (FGV) is expected to create several new posts, including that of deputy president and deputy chief executive officer (CEO) as well as sub-CEOs at some subsidiaries, to strengthen its operations across all divisions.
Sources said FGV chief operating officer (logistics and other business) Datuk Khairil Anuar Aziz was to be appointed as the new deputy president and deputy CEO to assist current president and CEO Datuk Zakaria Arshad.
“The newly-created posts are necessary to oversee the company’s operations spanning from upstream, downstream and midstream as well as monitor its more than 80 subsidiaries and more than 35,000 workers spread over more than 10 countries.
“An announcement could be made by FGV chairman Datuk Azhar Abdul Hamid to Bursa Malaysia pending the approval of the board of directors, who will meet today.
“FGV will also appoint new or redeploy sub-CEOs to oversee their respective subsidiaries.
“This mini restructuring is aimed at strengthening FGV’s position as the world’s largest crude palm oil producer,” said the source.
Zakaria declined to comment when contacted.
The reshuffling is seen as a boost for FGV, which has been dodged with several issues in the past four months until Azhar was appointed as its chairman and Zakaria returned to duty two weeks ago after a four-month forced leave of absence.
FGV made net profit of RM25.9 million in the second quarter ended June this year compared with RM73.6 million in the same quarter last year.