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Felda Global chairman says parent firm not involved in suspension of CEO
June 6, 2017 / 6:46 AM / 6 months ago

Felda Global chairman says parent firm not involved in suspension of CEO

KUALA LUMPUR, June 6 (Reuters) - The parent company of Malaysia’s Felda Global Ventures Holdings Bhd had nothing to do with the firm’s decision to ask CEO Zakaria Arshad to take an immediate leave of absence, Felda Global’s chairman said on Tuesday.

Felda Global’s board ordered its chief executive and chief financial officer to take leave of absence on Tuesday, citing pending investigations into certain transactions at a unit.

Chairman Mohd Isa Abdul Samad also told a news conference that the probe into the transactions was being conducted by internal auditors.

Felda Global is partly owned by state-owned Federal Land Development Authority (Felda). (Reporting by Emily Chow; Editing by Edwina Gibbs)

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