KUALA LUMPUR, Malaysia--Malaysian state-owned palm oil firm Felda Global Ventures Holdings Bhd. (5222.KU) has appointed Khairil Anuar Aziz, chief operating officer of its logistics sector, to be the company's officer-in-charge.
Mr. Khairil, who has been with the company since 2012, will take over the duties and responsibilities of the suspended group president and chief executive, Zakaria Arshad, according to a local stock-exchange filing.
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Felda Global also said the board executive committee had been disbanded, effective immediately.
The company is the world's third-largest operator of palm plantations. In early June, Felda Global disclosed the suspension of senior executives including Mr. Zakaria to facilitate an investigation into a transaction of one of its subsidiaries.
Shares of Felda Global ended Thursday down 1.2% at 1.66 ringgit, trimming year-to-date gains to around 7%.
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(END) Dow Jones Newswires
July 20, 2017 07:29 ET (11:29 GMT)