Khazanah Nasional Bhd today announced the appointment of two deputy managing directors, namely Ahmad Zulqarnain Onn and Tengku Azmil Zahruddin Raja Abdul Aziz, effective Jan 1, 2018.

The investment fund said Md Nor Yusof was appointed chairperson of the board executive committee (exco) effective Dec 5, 2017.

“A streamlining of some of the human capital oversight functions of the exco and the board committee for succession management also saw the formation of a board nomination and remuneration committee to be chaired by Md Nor Yusof, with immediate effect,” it said in a statement after the 85th board meeting in Langkawi, chaired by Prime Minister Najib Abdul Razak.

The meeting was part of Khazanah’s annual year-end board retreat, which involved the 12-member board and Khazanah’s senior leadership team led by managing director Azman Mokhtar.

Elaborating on the appointment of the two deputy managing directors, it said Ahmad, 45, was currently executive director (investments), with taking care of Khazanah’s investments in Indonesia, Asean and the financial institution's group sector. He is also head of the strategic management unit.

Azmil Zahruddin, 45, is currently executive director (investments) with oversight of Khazanah’s investments in the innovation and technology sector, life sciences, and Africa, as well as, oversight of Khazanah's offices in San Francisco and Khazanah Koridor Utara in Penang. He was previously the chief executive officer of Malaysian Airline System Bhd.

Meanwhile, Andrew Sheng, who has been a Khazanah board member since July 2008, was appointed chairperson of Khazanah Research Institute, effective Nov 29, 2017 and Yeo Kar Peng was appointed to Khazanah’s board, effective Dec 5, 2017.

Yeo is currently the chairperson/managing partner of Kendall Court Capital Partners and is one of its founders. She is also a board member of Cenviro Sdn Bhd, a wholly-owned subsidiary of Khazanah.

The statement also said that the board meeting also reviewed Khazanah’s historical performance, as well as, strategy and budget for 2018 and beyond.

- Bernama