Nik Mohd Hasyudeen Yusoff has been appointed the new group managing director and chief executive officer of the Pilgrims Fund Board (TH) effective Sept 1.

He succeeds Zukri Samat who has terminated his contract of service for health reasons, Minister in the Prime Minister’s Department Mujahid Yusof Rawa announced today in a statement.

Nik Mohd Hasyudeen, 54, holds an MBA from Curtin University of Technology, Australia, has attended the Advanced Business Management Programme at the International Institute for Management Development (IMD) in Switzerland, is a Fellow of Certified Practising Accountants (CPA) Australia and a Member of the Malaysian Institute of Accountants (MIA).

He had been appointed to the boards of several companies including BIMB Holdings Berhad; Bank Islam Malaysia Berhad; BIMB Investment Management Berhad; Cagamas Holdings Berhad; TH Plantations Berhad; Malaysia Professional Accountancy Centre (MyPAC); Federation of Investment Managers Malaysia (FIMM) and Al Hijrah Media Corporation.

Nik Mohd Hasyudeen had also been appointed as the executive director of Market and Corporate Supervision and executive chairman of the Securities Commission of Malaysia Audit Supervisory Board and as extensive experience and expertise in accounting, corporate finance, capital markets and Islamic banking.

Zukri Samat was appointed the TH group managing director and chief executive officer on July 10 last year.

In a short time, he succeeded in reviving the company; restructuring the TH financial position to overcome the asset deficit situation; strengthened governance and put in place transparent management to safeguard the interests of depositors, said Mujahid.

"His contributions and guidance placed TH on a stable financial footing to implement its key mandate as the most important institution that helps Muslims in Malaysia to perform the fifth pillar of Islam,” he said.

- Bernama