KTMB Chairman and Board Resigned to Protest appointment of Idrose as new MD

KTMB Chairman and Board Resigned to Protest appointment of Idrose as new MD

25 Sep 2008 (Source NST and The Star)

KTM Bhd chairman Tan Sri Lim Ah Lek and some of its independent non-executive directors are believed to have tendered their resignation at a meeting today, according to a reliable source.

They are said to have resigned in protest against the government’s decision to revoke an earlier decision to appoint former Pos Malaysia Bhd chief executive officer Datuk Idrose Mohamed as the new managing director.

It was reported earlier that they had threatened to quit following the government’s decision to appoint former general manager of KTMB’s freight services division Abdul Radzak Abdul Malek for the post from Sept 2, replacing Datuk Mohd Salleh Abdullah.

KTMB board is said to be not happy with the Finance Ministry’s decision to revoke an earlier decision to appoint Idrose for the post.

However, it is not immediately known how many directors have joined Ah Lek, who is former Human Resources Minister, in tendering their resignation.

The non-executive directors are Datuk Othman Abd Razak, Datuk Mani Usilappan, Puan Sri Aida Boey Abdullah, Datuk Wong Mook Leong and Dr Kader Sultan Md Ismail.

Three other KTMB directors are non-independent non-executives Aniz Rizana Mohd Zainudin, Dr Ismail Jamaluddin and Dr Aminuddin Hassim.

It is believed the revocation of Idrose’s appointment was a last-minute decision and the Finance Ministry’s endorsement for Abdul Radzak was made early this month.

KTMB board members when contacted declined to comment, saying they are bound by the company secrecy.

Lim when contacted did not deny or confirm the resignations.

No official announcement on the appointment of Abdul Radzak has been made so far despite him assuming the post since Sept 2.

Abdul Radzak retired from KTMB last year.