Datuk Johan Abdullah will be the new group managing director and CEO of Lembaga Tabung Haji with effect from July 1

Johan Abdullah is new Tabung Haji group MD, CEO

THE STAR

KUALA LUMPUR: Datuk Johan Abdullah will be the new group managing director and CEO of Lembaga Tabung Haji with effect from July 1 under the pilgrim fund's succession plan. 

Johan, who has vast experience in the areas of corporate finance, capital markets and Islamic finance, will take over from Tan Sri Ismee Ismail who has been leading TH over the past 10 years.

Its chairman Datuk Seri Panglima Abdul Azeez Abdul Rahim said on Thursday that TH's board of directors had agreed that Johan would assuming the duties of acting CEO from May 16.

Azeez said this handing over by Ismee is in line with TH’s succession plan which has been put in place since January 2015.

“Tan Sri Ismee’s extraordinary vision and leadership has significantly contributed towards TH many successes, earning recognition and respect worldwide. We are proud and thankful for his leadership throughout his more than 10-year tenure, as TH has undergone successful transformation that had resulted in increased profitability,” said Abdul Azeez.

Johan joined TH on Jan 15, 2015 as the deputy group MD and CEO. He was forrmerly the group MD and CEO of BIMB Holdings Bhd.

He holds a Masters in Business Administration (Finance) from Morehead State University in the US. He also holds a degree in Business Administration (Finance) from Eastern Michigan University.

TH said under Ismee’s stewardship, the fund diversified its investment portfolio and income stream.

For FY ended Dec 31, 2015, TH's revenue soared over RM4bil for the first time while its profit (after zakat and taxes) surpassed RM3bil.

From early 2006 to 2015, TH acummulative profit rose more than RM18bil mark. During the same period, TH’s subsidies for the total hajj operations amounted to RM815mil and it also succeeded in ensuring that Muasassah pilgrims payment remains at RM9,980 since 2009.

TH also invested in real estate and properties overseas, especially in the Holy Land, the UK and Australia.

The depositors fund saw a four-fold rise from RM13.3bil (early 2006) to RM62.5bil by the end of 2015. TH growth and prominence also saw an increment in bonuses (an average of 6.6% net off zakat) paid to depositors from RM0.6bil to RM3.2bil, which was higher than the market deposit rate offered by Islamic banks.