Is the delisting of UEM Group a coverup a major lost?
Khazanah announced the appointment of Tenaga Nasional Chief Financial Officer, Datuk Mohd Izzaddin Idris as the CEO for infastructure group UEM Groups (UEM) from July 1.
Critics are saying why take the CFO of TNB, a losing concern. A good answer for simple deflection would be that the TNB CEO won the CEO of the year award.
Omar Ong and Ethos Consulting may have design CEO's KPI without Profit and Loss as part of criteria? Heard he is busy working on denying new Tan Sri Syed Hamid Albar the Petronas Chairmanship post. Wonder what about his Directorship in Petronas?
My source in TNB claimed Izzaddin is brother-inlaw to Tan Sri Azman Mokhtar, the CEO of Khazanah and member of the Board of Director of UEM. Izzaddin got married after building a career with Malaysian International Merchant Bank (MIMB), and later free lancing as consultant with Ranhill.
He is the senior to former UEM World CEO and current Maybank CEO, Dato Abdul Wahid Omar. But the school is not MCKK or MC Gay Gay, as the joke these days, the Alma Mater of claimed brother-in-law, Azman.
There is no issue of his claimed family relation. The securities law does not consider brother-in-law as related party. If he is a suitable candidate and the process is transparent, it is quite alright.
Being appointed CEO for UEM Group, it is a step-up for Izzaddin. Why does UEM Group need a former Merchant Banker to be CEO? Why not an Enginner since UEM is involved in many construction job abroad and locally? Why no more Accountant like former MDs, Dato Ahmad Pardas adn Wahid Omar?
