Reference no: EM133018589
New Lady Board Members for Nestle Malaysia
KUALA LUMPUR: Nestlé (Malaysia) Bhd has announced the impending appointment of two lady directors to its board. The new independent and non-executive directors are Datuk Hamidah Naziadin and Datin Seri Azlin Arshad. The appointments will take effect the day after the conclusion of Nestlé Malaysia's upcoming annual general meeting (AGM), the company said in a statement today. Hamidah has an illustrious career in the financial services industry, having been with CIMB Group for close to 30 years. She currently serves as group chief people officer of CIMB Group and chief executive officer of CIMB Foundation. She also sits as a board member of Maxis Bhd and has been appointed as a CEO Mentor as part of the Ministry of Higher Education CEO@Faculty programme. "In her HR capacity, Datuk Hamidah played an instrumental part of CIMB Group's expansion across ASEAN markets in the past decade, and also drove several strategic transformation programmes which include institutionalising CIMB Group's corporate culture throughout its operating companies regionally."
Azlin, meanwhile, has over 10 years of senior management expertise in various industries. Her previous key positions previously included vice president of the Industrial Development Division of Johor Corporation, member of the board of QSR Holdings Bhd and chief operating officer of NJOI. Prior to this, she was involved in investment banking for 19 years. "Having held leadership roles in institutions such as Maybank Investment Bank Bhd and ECM Libra Group Bhd, she is well-versed in areas such as corporate finance and advisory, debt capital markets, structured lending, asset management, private equity, stockbroking and equities research, as well as oversight roles in compliance, risk management, internal audit and legal," Nestle Malaysia said. Azlin currently serves as director of PayTV and senior vice president of Astro Malaysia Holdings Bhd, director and acting head of Astro Awani and deputy chairman of Syarikat Takaful Keluarga Malaysia Bhd. "With their breadth of experience and expertise, the appointment of Datuk Hamidah and Datin Seri Azlin to the board will bring further diversity to the board and continue to strongly support the group's aspirations to forge ahead in its journey," Nestle Malaysia said.
Source: Adapted from New Lady board Members for Nestle Malaysia. (2020, April 3). Retrieved June 18, 2021, from https://www.nst.com.my/business/2020/04/581065/new-lady-board-members-nestle-malaysia?fbclid=IwAR2oJ4Buy6U9C24eJ85c6JuJnzBDOfUCR1hzSdiNIxcYuanouvXzJW6QJlY)
Required:
Refer to the article above, analyse and comment on the rationale of the appointment of Datuk Hamidah and Datin Seri Azlin in the company. Justify your answer from the corporate governance context.