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15 November 2017

Almost New Board of Directors and Senior Management Sime Darby Bhd

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KUALA LUMPUR: Sime Darby Bhd
image: https://cdn.thestar.com.my/Themes/img/chart.png
 will have an almost-completely revamped board of directors and senior management line-up from Dec 1, including a new chairman and a new chief executive officer.

Tan Sri Wan Abdul Aziz Wan Abdullah will replace Tan Sri Abdul Ghani Othman as chairman, and Jeffri Salim Davidson will be group chief executive officer in place of Tan Sri Mohd Bakke Salleh.

In a statement, Sime Darby said the new board would comprise 11 directors, the majority of whom will be independent non-executive directors (currently 12).

The company will be helmed by the new board and senior leadership after the listing of its plantation and property units, tentatively on Nov 30.
The leaner Sime Darby Bhd will focus mainly on its trading businesses in the motors and heavy equipment sectors. It is also involved in other key growth sectors such as the logistics business and healthcare.

Datuk Seri Lim Haw Kuang and  Datuk Wan Selamah Wan Sulaiman will remain on the board, but the rest will be new members: Tan Sri Samsudin Osman, Datin Paduka Kartini Abdul Manaf, Tan Sri Mohamed Azman Yahya, Datuk Ahmad Pardas Senin, Datuk Seri Abdul Hamidy Abdul Hafiz and Thayaparan Sangara Pillai.

Besides Jeffri Salim, the senior management will comprise Mustamir Mohamad (group chief financial officer),  Datuk Thomas Leong Yew Hong (group chief strategy officer),  Scott William Cameron (managing director, industrial division), Datuk Lawrence Lee Cheow Hock (managing director, motors division) and Timothy Lee Chi Tim (managing director, logistics division).

Current chairman Abdul Ghani said: “This is a distinguished line up of individuals who will be able to take Sime Darby forward into the future.

“The board and the senior management have, between them, the years of experience and expertise necessary to take the trading and logistics businesses to the next level.”

Sime Darby said an additional board member would be announced soon.

Following the listings of Sime Darby Plantation and Sime Darby Property as separate entities, Sime Darby Bhd will focus on its trading and logistics businesses consisting Sime Darby Industrial, Sime Darby Motors, Sime Darby Logistics and its healthcare business. 

Sime Darby Industrial is among the world’s largest Caterpillar dealers with a history of nearly 90 years with Caterpillar. It has a presence in 18 countries and territories across the Asia-Pacific region.

Sime Darby Motors is the world’s second largest dealer of BMW cars, with over 40 years of experience in the industry. It is a major player in the Asia-Pacific region, representing 29 brands and has a presence in ten countries. 

Sime Darby Logistics, meanwhile, is involved in ports, logistics and water management in the province of Shandong, in the Eastern China region.

Sime Darby Bhd also has a 50% stake in Ramsay Sime Darby Health Care, a joint venture with Ramsay Health Care, one of the world’s leading healthcare providers. Ramsay Sime Darby Health Care has six hospitals, three each in Malaysia and Indonesia.

In a circular to shareholders dated Nov 4, Sime Darby Bhd gave the indicative value of its market capitalisation will be between RM8.03bil and RM14.76bil.

Sime Darby Plantation - the world’s largest producer of certified sustainable palm oil - is expected to have a market capitalisation ranging from RM36.93bil to RM41.83bil.

As for Sime Darby Property, the range is expected to be RM9.86bil to RM11.70bil.

The EGM for Sime Darby shareholders to decide on its proposed demerger exercise will take place on Monday, Nov 20.

Read more at http://www.thestar.com.my/business/business-news/2017/11/15/sime-darby-bhd-discloses-new-board-and-senior-management-line-up/#f6QgocZJxGEjros5.99

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