Palm oil producer FGV Holdings Berhad has appointed Mohd Hairul Abdul Hamid as its chief financial officer, it said in a filing with Bursa Malaysia today, following a management shake-up that saw the departure of key executives last year.

Hairul, 48, was formerly the CFO of Mass Rapid Transit Corp Sdn Bhd and prior to that he was also the CFO for the energy and utilities division of Sime Darby Bhd.

FGV Holdings, the world's largest crude palm oil producer, changed its top management amid investigations into its business practices last year.

Its former CEO Zakaria Arshad stepped down in September following his suspension in the wake of an internal investigation, while the previous chief financial officer Ahmad Tifli Mohd Talha resigned in October.

FGV began its internal investigation last year following "adverse findings" from an earlier probe into its investments.

The company has been plagued by allegations of poor management, and has seen its share price decline by more than 80 percent since its listing in 2012.

- Reuters