KUALA LUMPUR (Feb 10): Axiata Group Bhd (KL:AXIATA) has appointed its current chief financial officer, Nik Rizal Kamil Nik Ibrahim Kamil, as group chief executive officer and managing director, effective June 1, 2026.

He will succeed Vivek Sood, who has led the group since 2023. Vivek has served Axiata for nine years in various roles, including group CFO before becoming group CEO.

The appointment forms part of Axiata’s long-term succession planning strategy, underscoring its commitment to leadership continuity and internal talent development.

Nik Rizal joined Axiata in January 2024 as group CFO, bringing extensive experience in finance, investments, and accounting. He also sits on the boards of CelcomDigi Bhd (KL:CDB), PT XLSMART Telecom Sejahtera Tbk, Robi Axiata PLC, EDOTCO Group Sdn Bhd, and PT Link Net Tbk.

Prior to Axiata, Nik Rizal was group CFO of RHB Bank from 2021, and earlier served as executive director of investments at Khazanah Nasional Bhd, where he led major investment and divestment initiatives in the telecommunications, media, and technology sector.

He has also held board positions at Telekom Malaysia Bhd (KL:TM) and Astro Malaysia Holdings Bhd (KL:ASTRO), and spent nearly a decade with Royal Dutch Shell in Malaysia, Singapore, and the UK.

Nik Rizal holds a master’s degree in finance from London Business School and a degree in economics & accounting from the University of Bristol. He is a fellow chartered accountant (FCA) and business finance professional (BFP) with the Institute of Chartered Accountants in England and Wales, and a member of the Malaysian Institute of Accountants.

Axiata’s chairman, Tan Sri Shahril Ridza Ridzuan, said Nik Rizal has played a central role in shaping the group’s strategy and strengthening financial discipline. “Given his experience with Axiata, the industry, and our stakeholders, the board is confident his appointment will position Axiata well for sustained performance and long-term value creation,” he said.

Vivek expressed support for the transition, noting Nik Rizal’s “deep understanding of the business, disciplined execution, and commitment to stakeholders.” He added that he looks forward to working closely with Nik Rizal over the coming year to ensure a smooth handover.

Nik Rizal said he was honoured by the board’s confidence and committed to ensuring continuity while stepping into his new responsibilities.

Shares in Axiata closed up 19 sen or 8.7% at RM2.38 on Tuesday, valuing the group at RM21.86 billion. The stock has gained 4.4% over the past year.