KUALA LUMPUR (Dec 9): Dagang NeXchange Bhd (DNeX) has redesignated its managing director Tan Sri Syed Zainal Abidin Syed Mohamed Tahir as executive chairman with effect from Friday (Dec 9).
The announcement, via a bourse filing, comes after the group's earlier announcement on Dec 6 of the resignation of Tan Sri Abdul Rahman Mamat as its chairman to pursue other corporate interests.
Syed Zainal, 60, joined DNeX's board in July 2020 as an independent non-executive director. He was then appointed as managing director in October 2020.
He had previously served as Petroliam Nasional Bhd’s (Petronas) vice president for downstream marketing, and as managing director of Petronas Dagangan Bhd.
DNeX’s share price closed 0.5 sen lower at 54.5 sen on Friday, valuing the group at RM1.72 billion. The counter has fallen 32.72% year to date.