KUALA LUMPUR: Banking icon Tan Sri Azman Hashim has initiated the transition plan of his chairmanships and directorships of six companies within AMMB Holdings Bhd over the next two years.
Azman, 78, will, however, remain as a substantial shareholder and chairman of AMMB, the holding company, where he has held the position since August 1991.
AMMB, in its filing to Bursa Malaysia yesterday, said Azman would retire from commercial and investment banking arms AmBank (M) Bhd and AmInvestment Bank Bhd by end-2018.
For this year, he plans to step down from AmMetLife Takaful Bhd (by end-February), AmBank Islamic Bhd (by end-April), AmMetLife Insurance Bhd and AmGeneral Insurance Bhd (by end-December).
“Having put in place changes to the senior management of the group and as AMMB and its operating entities begin their next phase of growth and development, Azman is confident that it is now the right time for him to initiate the planned transition of the chairmanship at the respective operating entities,” said AMMB.
“The board is appreciative and fortunate that he has agreed to remain in his role as chairman of AMMB.
“Over the last 35 years, Azman has been a guiding force in building the group to what it is today. He has been exemplary in his role as chairman of the respective entities. Indeed, this transition and succession planning is another testament of his foresight in strengthening the group’s growth in the decades to come,” it added.
Azman has been in the banking industry since 1960 when he joined Bank Negara where he served until 1964.