TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
CIMB Niaga appoints new commissioner, director
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
A man makes a transaction at a CIMB Niaga ATM. (Antara/Rosa Panggabean)
P
ublicly listed lender CIMB Niaga announced changes to its board of commissioners and board of directors at a shareholders meeting in Jakarta on Thursday.
Zafrul Tengku Abdul Aziz was appointed a commissioner following the resignation of Ahmad Zulqarnain Onn.
Zafrul is CEO of CIMB Group Holdings Berhad, in Malaysia, CIMB Niaga’s parent company.
Meanwhile, Rahardja Alimhamzah was appointed bank director.
Read also: CIMB Niaga issues Rp 1 trillion bondCIMB Niaga president director Tigor M. Siahaan said the new structure of the bank would strengthen the bank’s capabilities to achieve its targets.
“We will be able to strengthen cooperation between commissioners and directors so that we can improve our performance in the coming days,” said Tigor after the meeting.
CIMB Niaga stakeholders also agreed that the bank’s share buyback plan would be held within 12 months after Thursday’s meeting, instead of within 18 months as decided in a meeting on April 25.
The bank will buy back 2 percent of its public shares worth Rp 503 billion (US$37.67 million), with a maximum cost of Rp 500 billion, Tigor added.
“The shares will be redistributed to our employees as part of our Employee Share Grant program and management and employee stock option plan,” he said. (dea/bbn)
