AMMB chairman Azman Hashim to bow out of subsidiary firms by end of 2018

PETALING JAYA: AMMB Holdings Bhd yesterday announced that its chairman and substantial shareholder Tan Sri Azman Hashim, who will be 80 in two years’ time, is transitioning out of six of its operating companies by the end of December 2018.
Azman told employees in a note that the move is to reduce his responsibilities as he nears 80, but that he will remain as non-executive chairman of AMMB and a substantial shareholder, with a focus on strategic initiatives to strengthen the group. The group is in the process of identifying his successor for the firms.
Azman is to transition out of four companies in 2017 itself, namely, AmMetLife Takaful Bhd, AmBank Islamic Bhd, AmMetLife Insurance Bhd and AmGeneral Insurance Bhd, and step down from his roles at AmBank (M) Bhd and AmInvestment Bank Bhd by the end of 2018. His children, Shalina Azman and Shahman Azman, have already taken over the chairmanships for AmCorp Properties Bhd and RCE Capital Bhd respectively.
In a filing with Bursa Malaysia AMMB said, with the operating entities starting out on its next phase of growth and development, Azman is confident that it is now the right time to initiate the planned transition of the chairmanship at the respective operating entities.