KUALA LUMPUR: Datuk Zakaria Arshad has resigned as FGV Holdings Bhd’s Group President and Chief Executive Officer.
In a filing with Bursa Malaysia, the company said with the resignation, his suspension announced earlier had ended.
Nonetheless, the forensic investigation mentioned in FGV’s statement from the board on Aug 28 would continue, it noted.
The probe, initiated in late 2017 to look into various transactions that resulted in FGV being exposed to a significant loss, is expected to be concluded by year-end.
FGV also gave assurance that business would continue as usual for the group.
“As announced earlier, the Special Board Committee 2 comprising four FGV Directors, namely its Chairman, Datuk Wira Azhar Abdul Hamid, Datuk Dr Salmiah Ahmad, Dr. Mohamed Nazeeb P. Alithambi and Datin Hoi Lai Ping, shall continue to perform the functions of Group President and CEO of FGV,” it said.
Zakaria was suspended from his duties – for the second time – on Thursday last week.
FGV explained that the suspension followed the conclusion of internal investigations into 10 critical issues that resulted in financial loss for FGV and its shareholders. - Bernama