October 12, 2018 / 10:18 AM / 2 months ago

CFO of Malaysian palm producer FGV Holdings steps down

KUALA LUMPUR, Oct 12 (Reuters) - Malaysian palm oil producer FGV Holdings announced on Friday that its Chief Financial Officer Ahmad Tifli Mohd Talha resigned, amidst a management shakeup at the world’s top crude palm oil producer in recent weeks.

According to a filing with the Bursa Malaysia, Ahmad Tifli resigned “to pursue other career opportunities.”

Three top executives at FGV have left the company as it has investigated several of its business practices.

FGV said in late August it had begun the internal investigation following adverse findings from an earlier probe into its investments.

In September, Chief Executive Officer Zakaria Arshad stepped down following his suspension in the wake of the investigation.

The company has had three chief executives since its initial public offering in 2012. Its shares have lost about 70 percent since then amid criticism by investors and analysts of poor management.

Reporting by Emily Chow; Editing by Christian Schmolinger

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