KUALA LUMPUR: Pestech International Bhd has relieved Pestech Technology Sdn. Bhd's chief executive officer (CEO) Paismanathan Govindasamy from his duties and appointed former MRT Corp chief executive officer Datuk Seri Dr Shahril Mokhtar as its new chairman, effective immediately.
Newly-appointed Pestech International chairman Tan Sri Mohd Zuki Ali said this strategic appointment marks a significant step forward in strengthening the leadership and governance as the company continues its commitment in driving operational excellence in its project execution.
Paismanathan is relieved from all his executive powers, authority in dealing with the clients and other stakeholders concerning operational and other affairs. Meanwhile, Ir. Yeoh Jit Shiong is appointed as the acting CEO with immediate effect.
"This transition reflects the board's dedication to aligning the company's leadership structure with its long-term objectives," Zuki said in a statement. Shahril is an accomplished leader with over 25 years of experience spanning banking, transportation, infrastructure development, and corporate governance. He began his career in 1995 at Maybank Bhd and later held key roles at PwC Malaysia, British American Tobacco, and Penerbangan Malaysia Bhd.
He was instrumental in establishing the Land Public Transport Commission (SPAD) and served as its chief operating officer.
Shahril's leadership includes serving as Prasarana Malaysia Bhd managing director and MRT Corp, where he oversaw the development of MRT Line 1 and Line 2 projects.
In addition to corporate leadership roles in property development and technology services, he has chaired UiTM Holdings and currently serves as UTM Holdings chairman.
He is also an Exco member and chairman of the Football Association of Malaysia's (FAM) marketing and sponsorship committee and deputy president of the Football Association of Selangor. Zuki said Shahril's extensive background positions him to bring exceptional strategic and operational expertise to Pestech.
Pestech's share price was trading at 19 sen, up half a sen or 2.7 per cent, earlier with a market capitalisation of RM441.9 million.