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Appointment of Tan Sri Megat Zaharuddin as new Chairman

08 September 2009

6 min read

Maybank wishes to announce that its Chairman Tan Sri Mohamed Basir bin Ahmad will not seek reappointment at the forthcoming Annual General Meeting (AGM) on 30 September 2009. As such, he will therefore retire upon the conclusion of the AGM. Following the retirement, Maybank is pleased to announce that it has obtained the approval of Bank Negara Malaysia to appoint Tan Sri Megat Zaharuddin Megat Mohd Nor as the new Chairman of Maybank effective 1 October 2009.


Tan Sri Mohamed Basir, 71, joined Maybank as a Director on 5 August 1993 following his retirement as Adviser in Bank Negara Malaysia. He was appointed as Chairman on 9 October 1993. He also served as Chairman of a number of companies in the Maybank Group, including Mayban Fortis Holdings Bhd, Maybank Investment Bank Berhad, Bank Internasional Indonesia, PT Bank Maybank Indocorp and Maybank Philippines Inc. In addition, he is a charter member of the Visa Asia Pacific Advisory Council.


On his retirement, Tan Sri Mohamed Basir said, "I am honoured to have been given the privilege to lead the Maybank Board for the past 16 years, a period during which the Group carved an illustrious record of performance and achievement as the country's leading financial services group. As I leave the Group and look forward to my retirement, I am proud to have been a Maybanker and will take with me many fond memories of the Group and its people. I would also like to thank my fellow members of the Board of Directors, past and present for the support extended to me. The sharing of knowledge and experience through the years is something I will always cherish."


"As I hand over the reins to Tan Sri Megat Zaharuddin who is no stranger to our Board, I am rest assured that the Group will be in very good hands under his able leadership and wide experience. His international exposure in particular would be highly relevant for Maybank in our aspiration to be a leading regional financial services group. I would also like to thank the management of the Group led by Dato' Sri Abdul Wahid Omar for their dedication and commitment to the growth and success of Maybank," he added.


Maybank President & CEO Dato' Sri Abdul Wahid Omar, in paying tribute to the Chairman, said, "We at Maybank will indeed miss Tan Sri Mohamed Basir dearly. On behalf of the 39,000 Maybankers in Malaysia and the region, we thank him for his invaluable leadership and guidance. Many a Maybanker will attest to his exemplary chairmanship, professionalism and integrity as a seasoned banker. We wish him well in his retirement."


During Tan Sri Mohamed Basir's tenure as Chairman, Maybank Group saw its assets grow from RM56 billion to RM311 billion as at 30 June 2009 while Group profit before tax more than quadrupled since 1993.


Tan Sri Mohamed Basir holds a Bachelor of Arts from the University of Malaya. He is also a Fellow of the Malaysian Institute of Bankers and has completed the Advance Management Program at Harvard Business School in 1978. He was conferred an Honorary Doctorate in Commercial Sciences by Oklahoma City University, USA in May 2004.


Tan Sri Megat Zaharuddin, 60, served on the Maybank Board as an independent, non-executive director from July 2004 until February 2009. He served as Chairman of the Remuneration and Establishment Committee of the Board and was a member of the Nomination Committee of the Board.


Tan Sri Megat Zaharuddin holds a Bachelor of Science (Hons) in Mining Engineering from Imperial College of Science & Technology, University of London. He is also an associate of the Royal School of Mines, UK. He built an outstanding career in the oil and gas industry for over 30 years and was Regional Business CEO/Managing Director of Shell Exploration and Production International B.V (Netherlands) prior to his retirement from Shell in January 2004. His career in Shell included over 16 years of international stints in Brunei Darussalam, the United Kingdom, the Netherlands and Turkey.


He was also Chairman of Maxis Communications Berhad from January 2004 unti November 2007. He is currently the Chairman of the Malaysian Rubber Board, Director of the Capital Market Development Fund and the International Centre for Leadership in Finance (ICLIF).