Malaysia's Sime Darby Shuffles Management

By Yantoultra Ngui Features Dow Jones Newswires

KUALA LUMPUR, Malaysia--Malaysian plantations-to-automotive conglomerate Sime Darby Bhd. (4197.KU) announced several changes to its top management on Friday, and said it was on track to list its plantations and property unit at the end of this year.

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Sime Darby named Wan Abdul Aziz Wan Abdullah as chairman and Jeffri Salim Davidson as president and group chief executive, according to a statement.

The managing director for Sime Darby Motors will be Lawrence Lee Cheow Hock; managing director of Sime Darby Industrial will be Scott William Cameron and managing director of Sime Darby Logistics will be Timothy Lee Chi Tim.

"The new leadership of Sime Darby Bhd will reflect the global nature of the business with 80% of revenues generated from outside of Malaysia," it said.

At Sime Darby Plantation Bhd., Abdul Ghani Othman will become chairman, Mohd Bakke Salleh will be the executive deputy chairman and managing director, and Renaka Ramachandran will take the role of chief financial officer.

At Sime Darby Property Bhd, Abdul Wahid Omar will be the chairman, Amrin Awaluddin will be the managing director, and Tong Poh Keow will become the executive director and chief financial officer.

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Shares of Sime Darby ended Friday 0.42% lower at MYR9.50 after the announcement, compared with the local benchmark stock index's 0.17% decline.

Write to Yantoultra Ngui at yantoultra.ngui@wsj.com

(END) Dow Jones Newswires

July 28, 2017 05:43 ET (09:43 GMT)