KUALA LUMPUR: Boustead Plantations Bhd is reinforcing its new “Reinventing Boustead” business strategy with several new appointments to its board of directors.
Boustead Plantation said the reinventing strategy was focused on new value creation within the group’s existing core businesses, creatively changing business models for new revenue sources, venturing into the digital services and technology sector, focusing on talent development, and rationalising non-strategic assets.
“These new directors will assist in guiding Boustead Plantations to reinvent itself from a conventional brick-and-mortar palm oil company to becoming a more robust, digitised and sustainable plantations business,” it said.
The new appointments comprise Izaddeen Daud, Fahmy Ismail and Ahmad Shahredzuan Mohd Shariff as its non-independent non-executive directors, while Datuk Indera Mustaffar Kamal Abdul Hamid as its independent non-executive director.
Group chairman Datuk Ismail Lasim said it would benefit from the new board’s distinguished backgrounds as well as broad experience and expertise.
“With these appointments, we believe it’s the right fit to support the ongoing growth of the company and the execution of its strategic plan which encompasses our mission to meet the expectations of our shareholders,” said Ismail.
Boustead Holdings Bhd (BHB) group managing director Datuk Seri Shazalli Ramly said the appointments of the senior management personnel of BHB onto the board of directors of Boustead Plantations was part of the group’s effort to ensure the reinventing agenda was properly cascaded to its subsidiary companies.
Shazalli said the appointments were also part of BHB’s effort to train its senior management team, and to identify any synergies with other companies within the group.
“We at BHB believe the future of Boustead Plantations lies in its ability to harness and implement technology and digital solutions into this normally traditional business.
“In these coming months, we hope to share examples where Boustead Plantations is leveraging technology and digital solutions towards improving its business performances,” he said.
Izaddeen, 52, is currently BHB deputy group managing director.
He also sits on the board of Boustead Heavy Industries Corporation Bhd, Pharmaniaga Bhd, Boustead Properties Bhd, UAC Bhd and Olympia Industries Bhd.
He has 30-year career in the investment and banking sector.
Fahmy, 44, is currently BHB group finance director of BHB, a position he has held since 2017.
Throughout his 22-year career, he has held various leadership roles, notably as chief executive officer (CEO) of Boustead Plantations (2014-2017) and CEO of Boustead REIT Managers Sdn Bhd (2009).
Ahmad Shahredzuan, 38, is currently chief reinvention and strategy officer of BHB, a position that he has held since 2020.
In the past 15 years of his career, he has held various positions in Permodalan Nasional Bhd and McKinsey & Company.
Indera Mustaffar, aged 67, has a wealth of experience in the plantation sector spanning more than 30 years.
He started his career as an analyst for Amanah Saham Pahang Bhd in 1976.
He was appointed as an executive director of Gading Sari Sdn Bhd from 2005 to 2015.