KUALA LUMPUR, March 2 — Malayan Banking Bhd today announced that its chairman, Tan Sri Megat Zaharuddin Megat Mohd Nor will step down on March 31, 2017, it said in a filing to Bursa Malaysia.

He was appointed director and chairman of Maybank on Oct 1, 2009.

Prior to that, he was an independent non-executive director of Maybank from July 2004 to February 2009.

On April 1, 2017, Datuk Mohaiyani Shamsudin will become the first woman chairman to helm the main-board of Maybank which is the country’s largest public-listed company.

"I leave the Group heartened that it has stronger capabilities to pursue its vision and I would like to thank my fellow Board members, as well as the management and staff for their overwhelming support and commitment to strengthening the Maybank brand and reputation, and maintaining its stature as Malaysia’s top public-listed company.

"I will treasure these memories, and am confident that Maybank will achieve even greater success in the years ahead through the teamwork and dedication of all its people in its various geographies around the world,” Megat Zaharuddin said in a statement today.

In a tribute to him, Maybank group president and chief executive officer Datuk Abdul Farid Alias said the board and management were indeed grateful to Megat Zaharuddin for his strong leadership of Maybank, especially over the last seven-and-a-half years.

"He is a visionary leader who constantly challenged us to scale greater heights, and successfully steered the Group through some of the most challenging global economic situations,” Farid said.

Farid said the appointment of Mohaiyani as chairman augurs well for Maybank and would ensure continuity at the Board, given that she has been serving as a director of Maybank for over five years.

"Datuk Mohaiyani has had an impressive career and extensive experience not only in the financial services industry but also in public service.

As a member of the current board, she will already have insights into all aspects of the Group and we are confident she will lead Maybank effectively as she takes up the new position,” he said.

Mohaiyani was appointed a director of Maybank on Aug 22, 2011.

Mohaiyani also serves as a Board Committee member of the Credit Review Committee and Risk Management Committee.

She was with Amanah Chase Merchant Bank Bhd and Seagrott & Campbell Sdn Bhd before starting her own stockbroking company Mohaiyani Securities Sdn Bhd in 1985 and assumed the role of managing director.

During her active involvement in the stockbroking industry, she was appointed as deputy chairman of Kuala Lumpur Stock Exchange (now known as Bursa Malaysia Bhd) and chairman of Association of Stockbroking Companies Malaysia.

She had also been appointed as a member of several high-level national working groups such as the National Economic Action Council, National Economic Consultative Council II and National Information Technology Council.

Her current directorships in companies within the Maybank Group include chairman of Maybank Investment Bank Bhd and Maybank Kim Eng Holdings Ltd. — Bernama