Tun M is now Yayasan Pelaburan Bumiputra chairman, Zeti to helm PNB

PETALING JAYA: Prime Minister Tun Mahathir Mohamad has assumed the position of Yayasan Pelaburan Bumiputra (YPB) chairman with effect from June 28, while former central bank governor Tan Sri Zeti Akhtar Aziz has been appointed as Permodalan Nasional Bhd (PNB) chairman effective July 1.
Zeti's appointment is to succeed Tan Sri Abdul Wahid Omar, who will step down as PNB chairman and trustee from June 30 after nearly two years at the helm.
PNB is the investment subsidiary for YPB.
Following the leadership changes, YPB also noted that the composition of its board of trustees has been restructured to comprise Minister of Economic Affairs Datuk Seri Mohamed Azmin Ali (appointed also as YPB alternate chairman), Zeti and former auditor-general Tan Sri Setia Ambrin Buang.
"YPB and PNB welcome the appointment of Zeti and expressed confidence that given her longstanding and vast experience, she will continue to provide strong leadership to the PNB group in pursuing its founding mandate to enhance corporate wealth for the benefit of Malaysians," PNB said in a statement today.
Zeti is presently one of the members of the Council of Eminent Persons, entrusted to advise the government on matters pertaining to economic and financial matters.
"PNB appreciates the leadership provided by Abdul Wahid and the guidance that he has provided to the board and management of PNB, and its investee companies since his appointment in August 2016," PNB commented on the departure of Abdul Wahid.
"During his time with PNB, Abdul Wahid has set a roadmap for PNB to achieve three broad mandate deliverables; delivering enhanced sustainable returns for PNB's portfolio, increasing Bumiputera economic wealth and participation, and utilising part of PNB's gains for socially impactful initiatives," it added.
Abdul Wahid's departure comes on the heels of a major shake-up in government-linked company (GLC) leadership recently. He joined PNB as chairman on Aug 1, 2016, replacing Tun Ahmad Sarji Abdul Hamid. 
Meanwhile, PNB announced that Datuk Dr. Awang Adek Hussin will be retiring as PNB director and PNB Research Institute Sdn Bhd chairman effective June 30.