Ibrahim Abdul Majid appointed as new CEO of Boustead Plantations

KUALA LUMPUR (Nov 29): Boustead Plantations Bhd today announced the appointment of Ibrahim Abdul Majid as its new chief executive officer (CEO), effective Dec 1.

Ibrahim, 60, will take over from Mohamad Azlan Jaafar, who is standing in as acting CEO and will resume his responsibilities as deputy CEO.

In a statement today, the group said Ibrahim has an extensive career in the palm oil industry, bringing with him 40 years of experience.

He started his career with Sime Darby in 1979 and subsequently rose through the ranks, with his last position as Sime Darby Plantation Bhd's Southern Region CEO.

Boustead Plantations also announced the promotion of Mohamad Mahazir Mustaffa as its new chief financial officer and the appointment of Noral Afida Alwi as its new financial controller.

The group said the appointments will help to strengthen its transformation programme, given the current challenges impacting the industry.

Mohamad Mahazir, who has 21 years of exposure in finance, was prior to this serving as financial controller in Boustead Plantations. He is a fellow member of the Association of Chartered Certified Accountants (ACCA) and holds a Bachelor of Science in Business Administration (Accounting) from California State University, USA.

Noral, who just joined Boustead Plantations as its new financial controller, has more than 25 years of work experience. She started her career with Sime Darby in 1993, and her last position was as head of treasury at Sime Darby Plantation. Noral is a member of ACCA and attended Emile Woolf College in London.

Boustead Plantations shares closed 1.5 sen or 2.24% lower at 65.5 sen today, bringing the group a market capitalisation of RM1.47 billion.