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TM Group CEO, Datuk Seri Mohammed Shazalli Ramly resigned

MalaysianWireless heard rumours that the CEO of Telekom Malaysia, Datuk Seri Mohammed Shazalli Ramly has resigned.

Bloomberg reported that Datuk Seri Shazalli resigned as group chief executive officer of state-linked Telekom Malaysia Bhd., according to people with knowledge of the matter.

It said that Telekom Malaysia could announce Shazalli’s resignation as soon as the next few days, the people said, asking not to be identified because the information is private. Datuk Seri Shazalli, who was previously Axiata Group Bhd.’s regional CEO for its Southeast Asia operations, joined Telekom Malaysia last year.

Telekom Malaysia has a market value of $3.5 billion. Malaysian sovereign wealth fund Khazanah Nasional Bhd. owns about 26 percent of the company, according to data compiled by Bloomberg.

A reliable source told MalaysianWireless that the resignation may have nothing to with the Shareholders and the management of Telekom Malaysia. A few days ago Prime Minister Tun Dr Mahathir Mohamad has called for an official review on salaries and allowances drawn by heads of statutory bodies, commissions and Government Linked Companies (GLC).

Telekom Malaysia representatives were not reachable for comment.

Update: Telekom Malaysia issued a statement to Bursa Malaysia, confirming the resignation. Full announcement below:

Telekom Malaysia Berhad (TM) today announced the resignation of its Managing Director / Group Chief Executive Officer (CEO), Dato’ Sri Mohammed Shazalli Ramly with effect from 6 June 2018.

Concurrently, TM also announced the appointment of its Deputy Group Chief Executive Officer, Datuk Bazlan Osman as the Acting Group CEO effective 6 June 2018.

On behalf of TM Group, its Chairman, Tan Sri Dato’ Seri Sulaiman Mahbob expressed his gratitude to Dato’ Sri Shazalli for his contribution to the TM Group during his tenure. “The entire Board, management and TM employees would like to thank Dato’ Sri Shazalli for his leadership and contribution to the Group. We would like to take this opportunity to wish him all the best for his future endeavours. The leadership bench under the Acting Group CEO, Datuk Bazlan will continue the strategic and business imperatives for TM,” Tan Sri Sulaiman concluded.

[Media Statement]– Telekom Malaysia

About Kugan

Kugan is the founder of MalaysianWireless. He has been observing the mobile industry since 2003. Connect with him on Twitter: @scamboy