KUALA LUMPUR (March 18): Minority Shareholders Watch Group (MSWG) announced on Monday, the appointment of Dr Ismet Yusoff as its new chief executive officer effective immediately.
Ismet is taking over the role from Devanesan Evanson, who retired in December last year. Further, MSWG also appointed Selvarany Rasiah, Bursa Malaysia’s former chief regulatory officer and chief commercial officer, as its director.
“We believe that with their extensive experience and leadership, MSWG will continue to thrive as a leading monitoring body and the voice of minority shareholders,” MSWG chairman Datuk Mohd Nasir Ali said in a statement.
The announcement confirms The Edge Malaysia weekly’s report published for the week of Jan 8-14, 2024, that Ismet will be appointed as MSWG’s new CEO.
MSWG was set up in the year 2000 under a government initiative to raise awareness on minority shareholders’ interest and corporate governance matters, through shareholder activism and engagement with stakeholders.
The non-profit group is substantially funded by the Capital Markets Development Fund, as well as through sales of its own products and services.
Prior to the appointment, Ismet was the CEO of the Malaysian Institute of Corporate Governance and served the Securities Commission (SC), where he played an instrumental role in shaping Malaysia’s corporate governance landscape.
Selvarany, meanwhile, has been extensively involved in capital markets development and regulation, and played an active role in strengthening the capital markets, post the Asian Financial Crisis.