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Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) will fundamentally change its organisational and leadership structure. The guiding principle behind the organisational restructuring is aimed at accelerating growth in critical areas, promoting agility to foster greater cross-functional collaboration as well as strengthening the governance arrangement within the Exchange Group.
Central to the new design, the roles of Chief Commercial Officer and Chief Operating Officer will be phased out, resulting in a flatter management structure. The existing business leadership team will report directly to the Chief Executive Officer (“CEO”), providing the CEO a wider span of direct management and oversight of the business functions of the Exchange Group. In addition, a new CEO Regulation position is established to lead the regulatory leadership team in driving the frontline regulatory functions of the Exchange.
As a result of the upcoming changes at the Exchange, the Chief Commercial Officer, Ms. Selvarany Rasiah, Chief Operating Officer, Datin Azalina Adham and Chief Regulatory Officer, Ms. Yew Yee Tee will leave Bursa Malaysia with the expiry of their current fixed term contracts. The Director of Corporate Strategy, Dr. Tan Wei Lin will also be leaving the Exchange with the expiry of her current fixed term contract, to pursue other endeavours.
Datuk Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia said, “The organisational restructuring will make Bursa Malaysia into a more agile and efficient organisation, better able to meet the changing needs of customers and stakeholders in a fast-evolving global market.”
“On behalf of the Board and Management of Bursa Malaysia, I would like to thank our colleagues for the support and contributions during their tenure with the organisation.” Datuk Umar concluded.
The new structure will be operational from 1 January 2020.
