KUALA LUMPUR (June 30): Ahmad Zaki Resources Bhd (AZRB) said its founder Tan Sri Wan Zaki Wan Muda will retire as the group’s executive vice chairman effective tomorrow (Thursday, July 1).

However, the 72-year-old major shareholder of the group will stay on as a board member of AZRB, the construction group said in a bourse filing today.

“The board is pleased to further announce that Tan Sri Wan Zaki will stay on as a non-independent non-executive director of AZRB, as well as assume the role of AZRB group adviser effective the same date,” said the group.

According to the group’s 2020 annual report, Wan Zaki was appointed as the executive vice chairman in 1999.

Subsequently, he held the post of executive chairman from 2000 and was redesignated as AZRB’s executive chairman in 2004.

Prior to venturing into business, he served in various positions in state-owned companies in Pahang and Terengganu, of which his last position was the managing director of a Terengganu state-owned Pesama Timber Corporation Sdn Bhd.

He also served as chairman of Chuan Huat Resources Bhd from 2002 until 2013.

AZRB’s share price closed unchanged at 24 sen today, valuing the group at RM143.5 million.