KUALA LUMPUR (March 6): Tan Sri Jamaludin Ibrahim, former long-time CEO of Axiata Group Bhd (KL:AXIATA), has been elevated to be non-executive chairman of AirAsia X Bhd (KL:AAX), a little over a week after being given a seat on the aviation group’s board.
Jamaludin was redesignated to chair the board, effective Friday, after he was appointed an independent and non-executive director on Feb 24.
He succeeds Datuk Fam Lee Ee, 65, who occupied the seat since December 2023, and who has now been redesignated as a non-independent and non-executive director.
Jamaludin, 67, is a veteran of the IT and telecommunications sectors. He served as group CEO of Axiata from 2008 to 2020, and CEO of Maxis Communications prior to that from 1998.
Currently, he also chairs QSR Brands (M) Holdings Bhd and sits on the boards of Australian-listed companies SEEK Ltd and NEXTDC Ltd.
His appointment to AAX’s board in February came as AAX consolidated the short-haul and medium-haul aviation operations of the AirAsia Group following its acquisition of the aviation businesses from parent Capital A Bhd (KL:CAPITALA) in January.
The transaction unified the group’s seven airlines under a single banner and was completed via the issuance of 2.31 billion new AAX shares to Capital A and its entitled shareholders, alongside the assumption of RM3.8 billion previously owed by Capital A to AirAsia Bhd.
The enlarged AAX group concurrently allotted 606 million new shares to third-party investors through a fully subscribed RM1 billion private placement.
AAX is also evaluating a proposed name change to reflect the unified airline structure, though no decision has been finalised.
Shares in AAX ended 14 sen or 9.86% lower at RM1.28, valuing the group at RM4.3 billion.