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TM CEO Mohammed Shazalli Ramly resigns

UPDATE: TM has officially announced the resignation of Dato Sri Mohammed Shazalli Ramly.

Dato’ Sri Mohammed Shazalli Ramly was reported to have tendered his resignation as the group CEO of Telekom Malaysia. He took the role since 1 May 2017, following the retirement of the previous Group CEO, Tan Sri Zamzamzairani Mohd Isa.

At the moment, there’s no official statement from TM and Bloomberg is expecting an announcement in the next couple of days. This could be the shortest serving CEO in TM’s history.

According to Bloomberg, TM shares have fallen about 43% in the past 12 months. TM had recently reported a net profit drop of 32% from RM230.4 million to RM157.1 million for the first quarter of the year.

Prior to this, Shazalli was previously the Regional CEO and Corporate EVP for Axiata Group Berhad. He was also the former CEO of Celcom Axiata and NTV7.

UPDATE: Shazali has officially resigned. He will be replaced by the current Deputy Group CEO, Datuk Bazlan Osman as Acting Group CEO effective today. Below is the full statement from TM.

TM ANNOUNCES DEPARTURE OF DATO’ SRI MOHAMMED SHAZALLI RAMLY
Datuk Bazlan Osman appointed as Acting Group Chief Executive Officer

Telekom Malaysia Berhad (TM) today announced the resignation of its Managing Director / Group Chief Executive Officer (CEO), Dato’ Sri Mohammed Shazalli Ramly with effect from 6 June 2018.

Concurrently, TM also announced the appointment of its Deputy Group Chief Executive Officer, Datuk Bazlan Osman as the Acting Group CEO effective 6 June 2018.

On behalf of TM Group, its Chairman, Tan Sri Dato’ Seri Sulaiman Mahbob expressed his gratitude to Dato’ Sri Shazalli for his contribution to the TM Group during his tenure. “The entire Board, management and TM employees would like to thank Dato’ Sri Shazalli for his leadership and contribution to the Group. We would like to take this opportunity to wish him all the best for his future endeavours. The leadership bench under the Acting Group CEO, Datuk Bazlan will continue the strategic and business imperatives for TM,” Tan Sri Sulaiman concluded.

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Alexander Wong