KUALA LUMPUR: Tan Sri Megat Zaharuddin Megat Mohd Nor is leaving the Federal Land Development Authority (Felda) at the end of the month.
The Felda chairman, in a letter to its staff today, announced that he would step down on June 30, nearly a year after having been appointed to the post.
Megat Zaharuddin, the former chairman of Malayan Banking Bhd for more than seven years, had replaced Tan Sri Shahrir Samad who stepped down on May 14 last year.
“Felda has been operating with a new mission, vision and core values for a nearly a year. During the period, several transformation plans had been introduced and put forward.
“Three had been implemented, seven are in the process of implementation and the rest is expected as early as by end of 2019... That was my journey and involvement during my service here.
“However, my journey has come to an end. Today with a heavy heart, I would like to announce my resignation as Felda chairman. My last day at this esteemed organisation will be on June 30,” he said.
Megat Zahruddin also pointed that during his time, the government had in April this year tabled a White Paper for Felda.
The White Paper was reportedly a RM6.23 billion financial boost to ensure Felda’s sustainability.
In addition to the extensive experience in the oil and gas sector for 31 years, Megat Zaharuddin was also chairman of Maxis Communications Bhd from 2004 to 2007, Etiqa Insurance & Takaful from 2006 to 2009, was with the Malaysian Rubber Board from 2009 to 2010; Maybank Investment Bank Bhd from 2010 to 2016 and the Education Ministry from 2013 to 2016.
Felda is the largest shareholder in FGV Holdings Bhd with a 34 per cent stake.