KUALA LUMPUR, March 12 — CIMB Group Holdings Bhd (CIMB) has activated its succession plan for the role of group chief executive officer (CEO) and CEO of CIMB Bank Bhd.

In a statement, CIMB said the appointment is to replace Senator Datuk Seri Tengku Zafrul Tengku Abdul Aziz who relinquished his position as he has been appointed Minister of Finance.

"This process will be managed by the board with the appointment subject to the approval of Bank Negara Malaysia,” it said.

Meanwhile, CIMB group chairman Datuk Mohd Nasir Ahmad said to ensure the robustness of the plan, the bank will be looking at a range of qualified candidates and complete the process as soon as possible.

"The candidate needs to be visionary with a proven track record and the strategic expertise to steer our group, especially as we navigate increasingly challenging market conditions,” he said. — Bernama