Felda Global Ventures Holding Bhd’s (FGV) group president and CEO Zakaria Arshad will be resuming his duties after being on leave of absence since June 6 this year.

In a statement today, FGV said that taking into consideration the ongoing company transformation programme, and Zakaria’s commitment and assurance to resolve the long-outstanding debt of Safitex Trading LLC, the Minister of Finance Inc – as FGV’s special shareholder – has requested Zakaria to return to duties.

Chairman Azhar Abdul Hamid (photo), who also welcomed the decision, said that his immediate priorities were to improve the operational and financial performance of FGV’s core business, as well as ensuring sustainable growth going forward.

“Being one of the biggest palm oil plantation companies, FGV must aspire to be the industry leader in terms of productivity and financial returns, so any factors hindering us from achieving these objectives must be addressed immediately,” he said.

Azhar said there was a need for a new management structure to strengthen the organisation going forward, and to provide better focus towards achieving FGV’s strategic plans.

He said the board of directors’ composition would also be enhanced with the appointments of related subject matter experts, and the company would make the related announcements in due course.

Meanwhile, on the progress of the domestic inquiry on Zakaria regarding Safitex Trading’s debt, FGV said that it has been undertaken with proper internal processes consistent with MOF Inc’s requirement that the process must be carried out with integrity, impartiality and proper corporate governance.

It said that the findings of the inquiry were submitted to MOF Inc in line with Article 80 of FGV’s memorandum and articles of association, and MOF Inc has taken time to review the findings before making its decision.

- Bernama