Page 104 - MSM_AR2020

CHAIRMAN’S DELIVERING MSM MANAGEMENT DISCUSSION GROUP FINANCIAL
STATEMENT VALUE OVERVIEW & ANALYSIS REPORT

NOMINATION AND REMuNERATION COMMITTEE REPORT

Senior Management

Changes to the Senior Management personnel took place during the FYE 2020 until the date of this report:

Changes
Senior Management Type Effective Date
Syed Feizal Syed Mohammad Appointed 1 February 2021
Group Chief Executive Officer
Hasni Ahmad Redesignated/ 1 February 2021
102 Group Chief Operating Officer Appointed
Fakhrunniam Othman Resigned 1 February 2021
MSM MALAYSIA HOLDINGS BERHAD Annual Report 2020
Acting Group Chief Executive Officer
Dato’ Khairil Anuar Aziz Cessation of office 5 October 2020
Group Chief Executive Officer

Mohd Shaffie Said Cessation of office 5 October 2020
Group Chief Operating Officer

In September 2020, the former Group Chief Executive Officer (“GCEO”), Dato’ Khairil Anuar Aziz (“Dato’ Khairil”) and former
Group Chief Operating Officer (“GCOO”), Mohd Shaffie Said (“Mohd Shaffie”) have been required to explain on certain
irregularities relating to inventories pertaining to an adjustment to write-off inventories amounting to RM36.6 million in
MSM Sugar Refinery (Johor) Sdn Bhd’s (“MSM Johor”) 2019 Financial Statements.

In the interim, the Board appointed Fakhrunniam Othman (”Fakhrunniam”) and Hasni Ahmad (“Hasni”) as Officer-In-Charge
to perform the functions of the MSM GCEO and GCOO. During the interim, the Board also established a Board Executive
Committee, comprising of Datuk Syed, Datuk Hapiz and Dato’ Haris Fadzilah Hassan to guide and assist Fakhrunniam and
Hasni accordingly.

In October 2020, the Board had undertaken due process to allow the former GCEO and GCOO to clarify on the irregularities
pertaining to the adjustment to write-off inventories amounting to RM36.6 million in MSM Johor in the 2019 Financial
Statements and has assessed the clarification provided by both parties and finds them unacceptable. With that, Dato’ Khairil
and Mohd Shaffie ceased office with effect from 5 October 2020. Due to the cessation, Fakhrunniam and Hasni were appointed
as the Acting GCEO and Acting GCOO of the Company, respectively with effect from 8 October 2020.
Consequently, in November 2020, the Board Executive Committee which was established earlier in September 2020 to guide
and assist Fakhrunniam and Hasni was dissolved.

The search firm selection for the purpose of talent sourcing for the posts of GCEO and GCOO presented seven (7)
candidates for the position of GCEO and six (6) candidates for the position of GCOO. NRC shortlisted five (5) candidates for
the GCEO position including the Acting GCEO and four (4) candidates for the GCOO position including the Acting GCOO
for interview. All the NRC members conducted interviews over three (3) days in December 2020 and recommended to
the Board for the appointments.
In February 2021, Syed Feizal Syed Mohammad (“Syed Feizal”) and Hasni were appointed as the GCEO and GCOO respectively.
With the appointment of Syed Feizal, Fakhrunniam ceased to be the Acting GCEO on the same day.