Subscribe to our Telegram channel for the latest updates on news you need to know.
KUALA LUMPUR, Mar 18 — People with executive powers such as heads of states and ministers should not serve on boards of listed companies, Securities Commission (SC) Malaysia executive chairman Datuk Syed Zaid Albar said.
He cited Chapter Seven of the Organisation for Economic Co-Operation and Development (OECD) guide that said such appointments may cast doubt on the independence of the boards.
“Listed companies should be guided by the OECD corporate governance principles for state-owned enterprises,” he told reporters during a virtual press conference today.
Syed Zaid was responding to reporters’ questions on concerns about the increasing number of politicians appointed to boards of listed companies.
MORE TO COME