KUALA LUMPUR: Yayasan Pelaburan Bumiputra (YPB) today announced the appointment of Datuk Abdul Rahman Ahmad as the new president and group chief executive of Permodalan Nasional Berhad (PNB), effective July 1.
The PNB announcement came just minutes after CIMB Group Holdings Bhd said Abdul Rahman would step down as its group chief executive officer (CEO) effective from June 30.
This confirms Business Times' report recently that Abdul Rahman was poised to return to take the helm of PNB following then-group chief executive Ahmad Zulqarnain Onn's elevation to the Employees Provident Fund.
Business Times also reported that Abdul Rahman's potential comeback to PNB will likely see CIMB Group CEO of group consumer and digital banking Effendy Shahul Hamid succeeding him.
Prior to undertaking the latest position as the group CEO of CIMB, Abdul Rahman had served as the president and group chief executive of PNB from 2016 until 2019.
Currently, Abdul Rahman is also CEO of CIMB Bank Bhd where he has served since 2020.
He brings with him more than 20 years of leadership experience in various financial services and corporate sectors, including Malaysian Resources Corporation Bhd, Media Prima Bhd and Ekuiti Nasional Bhd.
Abdul Rahman was also the non-executive non-independent chairman of Sime Darby Bhd and Velesto Energy Bhd.
PNB said it welcomes Abdul Rahman's return to provide continuity and drive the execution of the recently developed the fund's strategic plan as well as help to deliver on its purpose of uplifting the financial lives of Malaysians across generations.
YBP, the parent company of PNB, was established in early January 1978 to formulate policies and guidelines for Bumiputera equity investors.
To implement its policy, YBP established PNB as its fully-owned subsidiary.