CIMB's Indonesian Subsidiary President Director and CEO Resigns

KUALA LUMPUR, Oct 23 (Bernama) -- CIMB Group Holdings Bhd’s Indonesian subsidiary, PT Bank CIMB Niaga Tbk (CIMB Niaga), president director and chief executive officer Tigor M Siahaan has tendered his resignation with effect from Oct 21, 2021. In a filing with Bursa Malaysia (Malaysia’s Stock Exchange), it said CIMB Niaga’s board of commissioners and nomination and remuneration committee have immediately activated its selection and transition planning process and would announce the new appointment in due course. It said to ensure a smooth transition, Tigor would be serving out his notice period in his current capacity with CIMB Niaga. “The board and management of CIMB Group would like to record their appreciation to Tigor for his significant contributions to CIMB Niaga since he joined in 2015,” it said. It added that under Tigor’s strong leadership, CIMB Niaga is well placed to deliver its Forward23+ targets as well as value for its shareholders and customers. CIMB Group Holdings Berhad is a Malaysian universal bank headquartered in Kuala Lumpur and operating in high-growth economies in the Association of Southeast Asian Nations (ASEAN). -- BERNAMA