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11 December 2017

Khazanah announces Board and Senior Management appointments

Khazanah Nasional Berhad (“Khazanah”) today held the 85th Meeting of its Board of Directors (“Board”) in Langkawi, chaired by Yang Amat Berhormat Dato Sri’ Mohd Najib Tun Abdul Razak.

The meeting was part of Khazanah’s annual year-end Board Retreat, which involved the 12-member Board and Khazanah’s Senior Leadership Team led by Managing Director Tan Sri Azman Mokhtar.

In addition to the ongoing review of historical performance, as well as strategy and budget for 2018 and beyond, the Board at its meeting also resolved several Board-level and senior management appointments, as part of its ongoing governance and succession planning process. In this regard, Khazanah is pleased to announce the following appointments:

  1. Tan Sri Md Nor Yusof is appointed Chairman of the Board Executive Committee (“EXCO”), effective from 5th December 2017.
  2. A streamlining of some of the human capital oversight functions of the EXCO and the Board Committee for Succession Management also saw the formation of a Board Nomination and Remuneration Committee (“BNRC”) to be chaired by Tan Sri Md Nor Yusof, with immediate effect.
  3. The appointment of two Deputy Managing Directors as follows, with effect from 1st January 2018:
    • Ahmad Zulqarnain Onn is currently Executive Director, Investments with coverage of Khazanah’s investments in Indonesia, ASEAN and the Financial Institutions Group sector. He is also Head of the Strategic Management Unit. Ahmad Zulqarnain, 45 years old, joined Khazanah in May 2014. A graduate in Economics from Harvard University, United States, Ahmad Zulqarnain was previously the CEO of Danajamin Nasional Berhad and has also held various roles with UBS Warburg, Pengurusan Danaharta Berhad, CIMB Group, Symphony Group and Bolton Berhad.
    • Tengku Dato’ Sri Azmil Zahruddin Raja Abdul Aziz is currently Executive Director, Investments with oversight of Khazanah’s investments in the Innovation and Technology sector, Life Sciences, and Africa, as well as oversight for Khazanah’s offices in San Francisco and Khazanah Koridor Utara in Penang. Tengku Dato’ Sri Azmil, 47 years old, joined Khazanah in October 2011. A graduate in Economics from University of Cambridge, United Kingdom and a Chartered Accountant, Tengku Dato’ Sri Azmil was previously the CEO of Malaysian Airline System Berhad (“MAS”), the CEO of Penerbangan Malaysia Berhad and has also served in various roles with PricewaterhouseCoopers in their London and Hong Kong offices.
  4. Tan Sri Andrew Sheng, who has been a Board member of Khazanah since July 2008, was appointed as the Chairman of Khazanah Research Institute, with effect from 29th November 2017.
  5. Ms. Yeo Kar Peng is appointed to the Board of Khazanah with effect from 5th December 2017. Ms. Yeo is currently the Chairman/Managing Partner of Kendall Court Capital Partners and one of its founders. She is also a Board member of Cenviro Sdn Bhd, a wholly-owned subsidiary of Khazanah. Prior to establishing Kendall Court, she was Managing Director at Citigroup Global Markets. She has also held the post of Head of Research at UBS and WI Carr, respectively.

Overall, the new appointments involving the Khazanah Board, Senior Leadership Team and KRI Board of Trustees supplements Khazanah’s ongoing institutionalisation efforts, which are a key focus for Khazanah, as it continues to move forward in delivering its mandate as the strategic investment fund of the Government of Malaysia.


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