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KUALA LUMPUR: Berjaya Corporation Bhd announced that its new Group Chief Executive Officer (CEO) Abdul Jalil Rasheed has acquired 70 million of its shares at 28 sen per share.
In a statement today, Berjaya said that the acquisition is equivalent to 1.4% of the total of five billion shares of the company.
“The acquisition of the stake in Berjaya by Abdul Jalil signifies good corporate governance, whereby, as CEO of the group and minority shareholder, he would act in the best interest of the company and its various stakeholders,” he said.
Meanwhile, Abdul Jalil said that being a shareholder and CEO of the group would allow him to execute changes with the right incentive.
He said that it is also a vote of confidence in the company and addressed the seriousness of this stage of institutionalization that the company is undertaking.
“I assumed this role as CEO of the group to undertake a transformation of Berjaya. In my years of experience, projects of this magnitude are best accomplished when the leader is well incentivized and aligned with all minority shareholders, ”he added.
Abdul Jalil was appointed general manager of the Berjaya group on March 16. He was previously President and CEO of Permodalan Nasional Bhd.
