January 2, 2019 / 6:09 AM / 9 months ago

Malaysian palm producer FGV appoints new chief financial officer

KUALA LUMPUR, Jan 2 (Reuters) - Malaysian palm oil producer FGV Holdings Berhad has appointed Mohd Hairul Abdul Hamid as its chief financial officer, it said in a bourse filing on Wednesday, following a management shake-up that saw the departure of key executives last year.

FGV Holdings, the world’s largest crude palm oil producer, changed its top management amid investigations into its business practices last year.

Its former chief executive officer stepped down in September following his suspension in the wake of an internal investigation. The previous chief financial officer resigned in October.

FGV began its internal investigation last year following “adverse findings” from an earlier probe into its investments.

The company has been plagued by allegations of poor management, and has seen its share price decline by more than 80 percent since its listing in 2012.

Reporting by Emily Chow; Editing by Tom Hogue

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