Maybank Extends CEO’s Term by 3 Years
Khairussaleh Ramli to Remain at the Helm Until 2025
According to a report by The Edge, Malayan Banking Bhd (Maybank) has extended the contract of its chief executive officer (CEO), Khairussaleh Ramli, for three more years. This means that Khairussaleh will continue to lead the bank until 2025.
Completing the M25+ Strategy
The contract extension will allow Khairussaleh to complete the bank’s ongoing strategy, dubbed M25+, in 2025. M25+ is a comprehensive plan aimed at transforming Maybank into a more agile and customer-centric organization.
New Plan for the Future
With the extension, Khairussaleh will also have the opportunity to build a new plan for the next few years, focusing on the bank’s growth and development.
Khairussaleh’s Tenure So Far
Khairussaleh took over as CEO of Maybank on May 1, 2022, and has since led the bank through a period of growth and success. Under his leadership, Maybank’s shares have returned 36%, outpacing the benchmark FTSE Bursa Malaysia KLCI Index’s 6.4%.
Headquarters Relocation
In other news, Maybank is set to begin moving its headquarters to Merdeka 118, the world’s second tallest skyscraper, in the second quarter of next year. The bank will be the tower’s biggest tenant, and the relocation is expected to provide a new and modern working environment for its employees.
Conclusion
Maybank’s decision to extend Khairussaleh’s contract is a vote of confidence in his leadership and vision for the bank’s future. With the M25+ strategy nearing completion, Khairussaleh will now focus on building a new plan to take the bank to the next level.
FAQs
Q: How long will Khairussaleh remain as CEO of Maybank?
A: Khairussaleh will remain as CEO of Maybank until 2025, a period of three years.
Q: What is the M25+ strategy, and how will it be completed?
A: M25+ is a comprehensive plan aimed at transforming Maybank into a more agile and customer-centric organization. The strategy will be completed in 2025, allowing Khairussaleh to focus on building a new plan for the future.
Q: Why is Maybank relocating its headquarters?
A: Maybank is relocating its headquarters to Merdeka 118, the world’s second tallest skyscraper, to provide a new and modern working environment for its employees.
Q: Will Maybank’s relocation affect its operations?
A: The relocation is expected to have minimal impact on Maybank’s operations, and the bank will continue to provide its usual services to customers.