This article first appeared in The Edge Financial Daily on December 4, 2018 - December 10, 2018

KUALA LUMPUR: Telekom Malaysia Bhd (TM) has appointed Rosli Man as a non-independent and non-executive chairman of the telecommunications giant effective immediately. Rosli, 65, replaces Tan Sri Dr Sulaiman Mahbob, 70, who resigned on Nov 30 following the cessation of office.

TM’s management has undergone several changes in the past six months, including the resignation of managing director and group chief executive officer (CEO) Datuk Seri Mohammed Shazalli Ramly.

Its executive director and deputy group CEO Datuk Bazlan Osman, appointed as acting group CEO in June following Mohammed Shazalli’s departure, resigned from the post last month. For the interim, TM had appointed chief operating officer Imri Mokhtar to become acting group CEO effective Nov 16.

In a statement yesterday, TM said Rosli has more than 32 years of experience in the telecommunications industry before resigning as an independent and non-executive director of TM in 2008. Since then, he has been doing consultation work before returning to TM yesterday.

On Sulaiman, TM said “[he is] an exemplary role model in the civil service and a well-respected economist. He also benefited the TM group for the last three years with his vast experience in government, economics and the corporate sector”.

“During his time at TM, his focus on corporate governance, integrity, corporate responsibility and sustainability, and ultimately on TM as a partner in nation-building, has left a lasting mark on all of us at TM,” it added.

According to TM’s integrated annual report 2017, Sulaiman was appointed to TM’s board on Jan 12, 2015. He had also served in the government for over 38 years in various capacities including as the director-general of the Economic Planning Unit in the Prime Minister’s Department; secretary-general of the then domestic trade and consumer affairs ministry; and under-secretary (economics) of the finance ministry.

TM’s market capitalisation has fallen 60%, from RM22.7 billion at the beginning of the year to RM9.09 billion yesterday.