KUALA LUMPUR (May 7): Permodalan Nasional Bhd (PNB) has promoted Datuk Rizal Rickman Ramli as its president and chief executive effective July 1.
Rizal, currently PNB deputy president, will assume the role of acting president ahead of his official appointment, the government-linked investment company said in a statement on Thursday. He succeeds Datuk Abdul Rahman Ahmad, who is retiring once he completes his two-year contract.
This confirms a report by The Edge earlier on Thursday regarding Abdul Rahman’s retirement at the end of the month.
“The board of directors welcomes the appointment of Datuk Rizal Rickman, which reflects the successful conclusion of PNB’s effective internal succession planning,” PNB said in a statement.
“Datuk Rizal Rickman will provide leadership continuity and stability as PNB progresses strongly to deliver on its current LEAP-6 strategic plan and chart its future growth in line with PNB’s purpose of uplifting the financial lives of Malaysians across generations,” the state-linked investment fund added.
Rizal first joined PNB in March 2018 as executive vice-president of property and real estate.
Over the following years, he steadily climbed the corporate ladder, taking on the role of chief investment officer for real estate in 2020, before expanding his portfolio as chief investment officer for private and strategic investments in April 2021.
His leadership trajectory continued with his appointment as deputy president and group chief executive in December 2024.
Prior to joining PNB in 2018, Rizal held the position of country managing partner for Malaysia at the Boston Consulting Group, specialising in strategy development (business model innovation and growth) and also corporate and industry-level transformations.