KUALA LUMPUR (Nov 29): Axiata Group Bhd has appointed former Khazanah Nasional Bhd managing director Tan Sri Shahril Ridza Ridzuan, 51, as its independent non-executive director, effective Monday (Nov 29).

In a statement, Axiata chairman Tan Sri Ghazzali Sheikh Abdul Khalid said Axiata's board is pleased to welcome Shahril, whom Ghazzali described as a "natural fit" for the group's board.

“Not only is he a highly accomplished corporate leader, he is no stranger to Axiata’s operations, thanks to his previous roles.

“In addition to his solid experience in leading national organisations, he has a strong understanding of what is needed for Axiata’s continuing trajectory as we manoeuvre new normal complexities and unlock new growth moving forward,” Ghazzali said.

Shahril, who led Khazanah as MD from August 2018 to August 2021, currently also serves as non-executive director of Malaysia Airlines Bhd and the Malaysia Aviation Group Bhd, where he chairs the board nomination and remuneration committee.

Before his time with Khazanah, Shahril was chief executive officer of the Employees Provident Fund, which he helmed for a little over five years from April 2013 to August 2018. He was deputy CEO of the retirement fund for over three years before that.

Meanwhile, Axiata president and group CEO Datuk Izzaddin Idris said the group is fortunate to have Shahril further strengthen its board line-up.

“The team and I look forward to his stewardship in guiding Axiata to deliver greater value as a trusted and reliable partner to the customers, communities, countries, regulators and investors that we serve across our footprint,” he said.

Axiata shares closed eight sen or 2.05% higher at RM3.98 on Monday, giving the telecommunications group a market capitalization of RM36.52 billion.