KUALA LUMPUR: CIMB Group Holdings Bhd has announced that Datuk Abdul Rahman Ahmad will step down as its group chief executive officer on June 30, after serving the group for four years since 2020.
Previously, Business Times had reported that Abdul Rahman would likely return to take the helm of the country's largest fund manager Permodalan Nasional Bhd (PNB).
He was the president and group chief executive of PNB from 2016 till 2019.
In its announcement today, CIMB said to facilitate the transition, Datuk Mohd Nasir Ahmad, who was originally due to retire in July this year upon the completion of his nine-year tenure as a board director, will remain as group chairman.
He will be redesignated as a non-independent non-executive director in line with good corporate governance, effective July 20, pending approval from regulatory authorities for the renewal of his tenure.
Mohd Nasir said Abdul Rahman has done an excellent job, driving CIMB's transformation under our Forward 23+ strategic plans and has been instrumental in putting the group on a solid footing as a leading focused Asean bank.
"Under Abdul Rahman's leadership, the group recorded strong growth in financial performance, strengthened operating resiliency, accelerated its digital initiatives, raised the bar for sustainability, as well as helped instill a strong CIMB culture.
"On behalf of the board I would like to thank Abdul Rahman for all his contributions to the group and we wish him well in his next role," he added.
According to CIMB, it has a robust succession plan in place, which has been activated.
The bank said the board will be announcing the new group chief executive officer of CIMB Group in due course, once regulatory approval is received.