PETALING JAYA: Permodalan Nasional Bhd (PNB) has appointed Datuk Rizal Rickman Ramli as its new president and group chief executive, succeeding Datuk Abdul Rahman Ahmad, who is retiring at the end of May.
In a statement, PNB said Abdul Rahman will retire from all executive roles upon the conclusion of his two-year contract with the fund management company. His last effective working day will be on May 31, 2026.
Abdul Rahman has more than 25 years of corporate leadership experience, having previously served as chief executive officer of several major Malaysian corporations, including CIMB Group Holdings Bhd, Ekuiti Nasional Bhd, Media Prima Bhd and Malaysian Resources Corp Bhd.
In a separate Bursa Malaysia filing, Sime Darby Bhd said it had appointed Abdul Rahman as its non-independent non-executive chairman with immediate effect.
Abdul Rahman, 56, previously held the same position at Sime Darby from 2019 to 2020.
Following the appointment of Abdul Rahman as chairman, Sime Darby said Hanizan Hood (52) has ceased to act as interim chairperson.
“She will continue her role as non-independent non-executive director,” the company said.
In the meantime, PNB said Rizal – who is currently deputy president and group chief executive – will assume the role of acting president and group chief executive before officially taking over as president and group chief executive effective July 1, 2026.
He joined PNB in 2018 and has held leadership roles across the group’s real estate, private markets, strategic investments and investment stewardship divisions before being appointed deputy president and group chief executive.
Rizal brings more than eight years of progressive leadership at PNB, having risen through the organisation from heading its real estate, private markets, strategic investments, and investment stewardship divisions, to his most recent role as deputy president and group chief executive, where he assumed group-wide strategic and operational oversight.
Prior to joining PNB, Rizal was country managing partner for Malaysia at Boston Consulting Group Inc.
“PNB’s board of directors welcomes the appointment of Rizal, which reflects the successful conclusion of PNB’s effective internal succession planning.
“Rizal will provide leadership continuity and stability as PNB progresses strongly to deliver on its current LEAP-6 Strategic Plan and chart its future growth in line with PNB’s purpose of uplifting the financial lives of Malaysians across generations,” the company said.