CEO Morning Brief

Rafidah Aziz Resigns as Chairman of AirAsia X

Publish date: Tue, 28 Jun 2022, 09:06 AM
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TheEdge CEO Morning Brief
Tan Sri Rafidah Aziz

KUALA LUMPUR (June 24): AirAsia X Bhd (AAX) on Monday (June 24) announced the resignation of Tan Sri Rafidah Aziz as its chairman effective July 1.

In a bourse filing, AAX said she was stepping down as she would soon have served the term allowed as an independent director.

“[She] would then need to comply with the change of status, from independent board member, to non-independent director, and the other ensuing requirements,” the medium and long haul affiliate of AirAsia Aviation Group said.

Rafidah, 78, was the country’s longest serving Minister of International Trade and Industry, having served in that capacity for 21 years, from 1987 to 2008.

According to AAX’s 2021 annual report, Rafidah was appointed as independent non-executive director and chairman of the board on March 31, 2011, and redesignated as a senior independent non-executive chairman upon listing of the company on July 10, 2013.

She is also the chairman of the nomination and remuneration committee, as well as the risk management committee of the board, and the safety review board of the company.

According to AAX’s 2021 annual report, Rafidah was paid a total of RM401,500 which comprised RM382,500 in fees and RM19,000 in allowance, based on the remuneration details of the directors of the company for the financial period ended June 30, 2021.

In a separate bourse filing, AAX announced the appointment of Tunku Mahmood Fawzy Tunku Muhyiddin as independent and non-executive director effective immediately.

Tunku Mahmood Fawzy, 63, is currently an independent director of AIA General Bhd, Hong Leong Asset Management Bhd and Deutsche Bank (Malaysia) Bhd.

He was previously a board member of Malaysia Airports Holdings Bhd, Hong Leong Islamic Bank Bhd, Pos Malaysia Bhd, Executive Solutions and Outcomes Sdn Bhd, Ethos Capital One Sdn Bhd, and Federation of Investment Managers Malaysia, as well as Energy Africa Ltd.

Shares in AAX finished 1.98% or one sen higher at 51.5 sen, which translates to a market capitalisation of RM213.6 million.

Source: TheEdge - 28 Jun 2022

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