Mohd Bakke Salleh appointed Petronas chairman, Ahmad Nizam Salleh to be chairman of PHB

Tan Sri Ahmad Nizam Salleh has been appointed as the new chairman of Pelaburan Hartanah Bhd (PHB) and his place as chairman of Petroliam Nasional Bhd (Petronas) will be taken over by Tan Sri Mohd Bakke Salleh.

"The Prime Minister would like to thank Tan Sri Ahmad Nizam for his leadership and contribution during his three years as the chairman of Petronas.

"Based on his 37 years of experience serving Petronas in various positions, he has successfully steered the company through the biggest challenges facing the country and the world, including the global oil price volatility and the COVID-19 pandemic crisis," the statement said.

Petronas still has a good international credit rating and is the country's leading company listed in the Fortune Global 500.

The PMO also informed that Ahmad Nizam will remain as the chairman of the KLCC group of companies.

"His experience at Petronas and in key property management in KLCC will breathe new life into the direction and management of PHB in increasing Bumiputera ownership of the country's commercial properties.

"Tan Sri Mohd Bakke is a corporate member with extensive experience and has served in various economic and financial fields.

"It is hoped that his skills and experience with the strong support from the board and existing management team will be able to take Petronas through the current challenging period to a more excellent level," the statement added.

Meanwhile, in a statement with Bursa Malaysia today, Telekom Malaysia Bhd (TM) announced that Mohd Bakke will resign as chairman effective July 31, 2021 after serving in the position since May 2020.

TM said Mohd Bakke would be replaced by Datuk Mohammed Azlan Hashim effective Aug 1, 2021.

The telecommunications giant has described Mohd Bakke is an exemplary role model in upholding governance and integrity and a highly respected corporate figure, who had brought his vast insights in industry and commerce to benefit the group.

"Together with the board, group chief executive officer and management, we have charted the next phase of growth for the company under the New TM Transformation 2021-2023, anchored on 40+ Value Programmes.

"This has already seen a strong start with quarterly growth across all lines of business and improved operations," it said.

Under his stewardship, TM said the group had also continued to serve and support the nation throughout the Movement Control Order (MCO) period, ensuring Malaysians stay safe and connected at home and remain productive, while extending humanitarian aid to those in need during these challenging times.

On the new chairman's appointment, TM said Mohammed Azlan is a highly respected corporate figure with extensive experience in investment and financial services, most notably as a board member of Khazanah Nasional Bhd and the Employees' Provident Fund.

"We look forward to Mohammed Azlan's guidance, counsel and leadership as the company continues on its transformation journey and next phase of growth and value creation," it said.