KUALA LUMPUR (Dec 7): Axiata Group Bhd has redesignated former Khazanah managing director Tan Sri Shahril Ridza Ridzuan as its new chairman effective Jan 1, 2022.

In a statement on Tuesday (Dec 7), the telecommunication giant said Shahril, 51, will be replacing Tan Sri Ghazzali Sheikh Abdul Khalid, who is retiring on Dec 31, 2021.

“The board of directors takes this opportunity to thank Tan Sri Ghazzali for his numerous contributions towards the group’s growth since its inception in 2008.

“He is the longest serving board member since incorporation and has steered Axiata through the challenging times towards greater heights over the years.

“A distinguished and highly respected career diplomat backed by 40 excellent years of serving international missions, his contributions to the group have been profound in elevating governance, process excellence and transparency,” Axiata said.

Ghazalli, 75, was first appointed to the board in March 2008 and assumed the role of the chairman of the board on Nov 1, 2018 following a short duration as interim chairman from mid-2018.

Under his stewardship, Axiata expanded its footprint across 11 countries within ASEAN and South Asia, not just in its core business of mobile telecommunications but also that of telecoms infrastructure and digital businesses, the group added.

“Together with the rest of the board, during his time as chairman, Tan Sri Ghazzali was also instrumental in engineering a meticulous succession plan for the mission critical change in senior leadership at Axiata. I took great comfort in the stewardship and guidance extended during his leadership.

“We are also very pleased to welcome Tan Sri Shahril as our next chairman. We certainly appreciate his familiarity with Axiata’s businesses and at the same time, with his expertise, experience and extensive network of relationships, we look forward to the new insights and challenges he will inspire.

“As our businesses of digital telcos, digital businesses and infrastructure are positioned to drive and accelerate digital inclusion across emerging Asia, we look to the future with confidence guided by his leadership,” said Axiata president and group chief executive officer Datuk Izzaddin Idris.

At noon break, shares in Axiata settled seven sen or 1.92% higher to RM3.72, giving it a market capitalisation of RM34.13 billion.