Friday 21 Jun 2024
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KUALA LUMPUR (May 17): Tan Sri Mokhzani Mahathir will step down as the non-executive chairman of Maxis Bhd (KL:MAXIS), effective from June 30, after 15 years sitting on the board of the company.

While the board assesses potential candidates to succeed Mokhzani, independent director Datuk Hamidah Naziadin will be appointed as the interim chairman from July 1, the mobile network operator said in a statement.

Mokhzani, the son of two-time prime minister Tun Dr Mahathir Mohamad, has served as a director of Maxis since its relisting on Bursa Malaysia in 2009, and as the chairman of the board since April 22, 2021. 

"My deepest appreciation goes to the board, management and employees of Maxis, in the past and present, for your support over the years. I would also like to thank all our customers for the trust placed in us. 

"I am confident that with the continued dedication and commitment from everyone at Maxis, the company will grow from strength to strength, and retain its leading position," he said. 

On Jan 26, Mokhzani was called up by the Malaysian Anti-Corruption Commission (MACC) for questioning, although the purpose of the investigation was not immediately revealed.

Prior to that, his brother Mirzan Mahathir was also summoned by the commission "to facilitate an ongoing investigation". 

The MACC had served notices on the brothers to declare all movable and immovable assets in their possession that had been accumulated since 1981, the year when Mahathir first became Malaysia's prime minister, within 30 days.

Since then, the brothers had been given two extensions after the original February deadline.

MACC chief commissioner Tan Sri Azam Baki later confirmed that Mahathir was under MACC investigation, and that orders issued to his sons to declare their assets were related to it.

Shares in Maxis went up 10 sen or 2.76% to close at RM3.72 on Friday, giving the company a market capitalisation of RM29.14 billion. Over the past year, the counter has fallen 63 sen, or 14.5%. 

Edited ByKathy Fong & Jason Ng
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