KUALA LUMPUR: Bursa Malaysia Bhd has announced its plans to begin succession planning for its chief executive officer, following reports that Datuk Muhamad Umar Swift is preparing to step down from the stock exchange regulator.
Recent media reports have named RHB Bank Bhd’s managing director of Group Wholesale Banking, Datuk Fad’l Mohamed, as a potential successor.
In a brief statement, Bursa Malaysia confirmed it has a comprehensive talent development and succession framework that evaluates both internal and external candidates for leadership roles.
“The board of Bursa Malaysia, through its Nomination and Remuneration Committee, is currently working on CEO succession. An announcement will be made once the process is finalised,” the company stated in its filing with Bursa Malaysia Securities.
Datuk Muhamad Umar Swift has served as CEO since February 11, 2019. Under his leadership, Bursa Malaysia achieved notable milestones, including 55 initial public offerings in 2024, marking the highest number of listings in 19 years.
