Azlin Arshad leaves Nestle Malaysia’s board

KUALA LUMPUR (April 26): Nestle Malaysia Bhd has announced the retirement of Datin Seri Azlin Arshad from the group's board.

She retired as an independent non-executive director with effect from Wednesday (April 26), according to the food and beverage manufacturer’s bourse filing. She was appointed to Nestle’s board in May 2020.

Azlin, 49, had previously served as deputy chairman at Syarikat Takaful Keluarga Malaysia Bhd, senior vice president of Astro Malaysia Holdings Bhd and deputy chief executive officer of ECM Libra Financial Group Bhd.

On Tuesday, Nestle Malaysia reported a 3.9% decrease in its first quarter net profit to RM197.15 million, from RM205.18 million a year earlier, amid higher commodity prices and unfavourable foreign exchange rates.

Revenue for the quarter ended March 31, 2023 rose 8.8% to RM1.84 billion, from RM1.69 billion previously, on improved domestic and export sales.

Nestle Malaysia was the top loser on Bursa Malaysia on Wednesday, closing 50 sen or 0.37% lower at RM136. This values the group at RM31.89 billion.