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Maybank Chairman Tan Sri Mohamed Basir Retires at AGM

30 September 2009

7 min read

Maybank Chairman Tan Sri Mohamed Basir b Ahmad today completed his tenure as Chairman of Maybank at the conclusion of the Group's annual general meeting and handed over to his successor Tan Sri Megat Zaharuddin Megat Mohd Nor who takes office as Chairman effective 1 October 2009.


In his introduction of the new Chairman to shareholders, Tan Sri Mohamed Basir who served as Chairman of Maybank for 16 years, thanked shareholders for the constant support and confidence in Maybank which have enabled the Group to spearhead into new frontiers of growth and expand aggressively into the region as Malaysia's financial services leader.


"We are at that point in our corporate history wherein future growth demands that we take bold and courageous steps in line with the strategic aspirations of the Group to reinforce its position as undisputed leader in the domestic market and make its mark in the region as a leading financial services group," he said.


"I am pleased that we have in my successor Tan Sri Megat Zaharuddin someone with wide corporate experience particularly at international level given our regional growth path and aspirations. In him, we have a visionary leader, someone with keen insight and the expertise to lead the Board. I believe that we have the right man for the job and I extend to him my personal best wishes and every success," Tan Sri Mohamed Basir said.


Tan Sri Megat Zaharuddin in engaging with the shareholders said, "The road ahead is no easy task but with your confidence, trust and support, you can be rest assured that Maybank will be steered by capable hands, professionals with the highest integrity and level of expertise. He added that the Maybank Board would strive at all times to provide wisdom to the Group management in timely adaptation of strategies to ensure continuous differentiated value creation.


"To my fellow board members, the Group stands strong today close to five decades of operations as the country's largest financial services group. Taking it further into its next 50 years of growth is indeed an exciting challenge for us all in Maybank. To add impetus to Maybank's transformation efforts, I will bring all my experience in this regard to ensure that the soul of the organization will be evident to all. Essential to achieving this will be the development of leadership at every level such that the spirit of the Maybank Brand will not just permeate the organization but will be clearly visible in all our service delivery and customer touch points," he said.


He also thanked Tan Sri Mohamed Basir for his dedicated service and commitment to Maybank through the years. "Tan Sri has been our longest serving Chairman in the history of Maybank. Under his Chairmanship, the Group has grown from strength to strength and has played a significant role in the community as the country's financial services leader. It is also during Tan Sri's tenure as Chairman that Maybank 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," he added.


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.


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 the 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 until 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). He is also a director of Woodside Petroleum, Australia.