FGV’s Zakaria Arshad suspended

(The Star) – Datuk Zakaria Arshad (pic), the group president and CEO of Felda Global Ventures Holdings Bhd (FGV) has been suspended with immediate effect.

He told The Star that he received a letter Tuesday signed by chairman Tan Sri Isa Samad informing him that he has been relieved of all duties in FGV and its subsidiaries indefinitely.

He was appointed to the post of FGV, one of the world’s largest palm oil companies, effective April 1, 2016.

Zakaria had been the executive vice president/head of palm downstream cluster of FGV since 2014.

He took over from Datuk Mohd Emir Mavani Abdullah whose contract expired on March 31.

Zakaria holds a Bachelor of Social Science (Economics) degree from Universiti Sains Malaysia and has attended executive business courses in Harvard Business School and Pembroke College, Cambridge University.

A Fellow of the International Society of Nanoscience, University of Cambridge UK, Zakaria is also the vice chairman of the Palm Oil Refiners Association of Malaysia and sits on the Board of Trustees of the Malaysian Palm Oil Council.

Zakaria, the son of a settler from Felda Palong 1, Negri Sembilan, has served the Felda Group for the past 32 years since 1984, including Felda Rubber Industries Sdn Bhd, Malaysia Cocoa Manufacturing Sdn Bhd, Felda Rubber Products Sdn Bhd and Felda Marketing Services Sdn Bhd.

At 11.53am, the share price was down six sen to RM1.67 with 24.4 million shares.