KUALA LUMPUR: Bursa Malaysia Bhd today announced it is embarking on succession planning for its chief executive officer, following reports that Datuk Muhamad Umar Swift is planning to leave the stock exchange regulator.
Media reports over the weekend named RHB Bank Bhd's current managing director of Group Wholesale Banking Datuk Fad'l Mohamed as his replacement.
Bursa Malaysia said in a shortly worded announcement that it has in place a talent development and succession plan which considers both internal and external candidates as potential future leaders of the company. "In this respect, the board of Bursa Malaysia through its Nomination and Remuneration Committee, is currently embarking on CEO succession. An announcement will be made by the company when the matter is finalised," it said in the filing with Bursa Malaysia Securities.
Muhammad Umar joined Bursa Malaysia on Feb 11, 2019.
Bursa Malaysia recorded a total of 55 initial public offerings in 2024, the highest number of listings in 19 years.