There has been much speculation of late on the appointment of a new CEO of Proton by Geely, the Malaysian carmaker’s new foreign strategic partner (FSP).
In response, DRB-Hicom has just issued a statement saying that both the conglomerate and Geely are “currently still in the process of finalising the transaction that was agreed upon in June this year” and that “an announcement will be made as soon as possible in regards to the same.”
UPDATE: Datuk Ahmad Fuaad Kenali will be Malakoff Corp Berhad’s CEO effective October 1
What’s for sure is that Proton with Geely in the picture will have a new CEO. This is because the departure of Datuk Ahmad Fuaad Kenali as CEO of Proton Holdings Berhad (PHB) has been confirmed. Fuaad, who assumed the CEO role in April 2016, will leave the post on September 30. Prior to that, he was COO/senior group director at DRB-Hicom.
“He has done an impeccable job in his short tenure at PHB. Under his watch, Proton had rolled-out four new models in a span of eight short months. He also played a vital role in closing Proton’s search for a suitable FSP. The need for an FSP in Proton was one of the key priorities of DRB-Hicom at the point of our acquisition of PHB in 2012,” said Datuk Seri Syed Faisal Albar, DRB-Hicom’s group MD.
“During his leadership, Proton saw a consistent improvement in business operations. Both the Boards of DRB-Hicom and PHB express our utmost gratitude for his immense contribution both at DRB-Hicom and at Proton; ending with the highly successful outcome of having Geely as an FSP for Proton. Fuaad will be assuming a big role with a related company and the boards wish him the best for his future undertakings,” added Syed Faisal, who will continue with as chairman of PHB.
DRB-Hicom says that the completion of the corporate transaction is expected to materialise very soon. Currently, both parties are intensifying efforts to finalise the detailed business plan for Proton. The plan is vital towards producing a solid “roadmap” for Proton for the years ahead, and will incorporate strategies for both companies to develop new vehicles together for the global market, DRB-Hicom’s statement added.
DRB-Hicom and Geely hold 50.1% and 49.9% stakes in PHB, the holding company. Perusahaan Otomobil Nasional Sdn Bhd (PONSB) and Proton Edar Sdn Bhd are 100% subsidiaries of PHB. For all three entities, DRB-Hicom has one additional seat at board level; matching the 50.1% stake that it holds. An announcement will be made in due course in relation to the composition of the board of these companies.
Part of the Definitive Agreement signed between DRB-Hicom and Geely is to ensure that the Chinese carmaker not only holds an investment in Proton, but also for it to lend expertise in the area of production, manufacturing, operations and marketing, namely in PONSB. Upon completion of the corporate transaction, Geely will be nominating a suitable candidate as CEO of PONSB.
“PONSB is the bulk of the operations of Proton Group, and thus it is critical that we have the right person for the job. An announcement shall be made in due course,” Syed Faisal said.
Datuk Radzaif Mohamed will continue in his role as deputy CEO. Similarly, Abdul Rashid Musa, who was named as head of Proton Edar in February this year, will continue in his role. “With Radzaif and Rashid remaining in their positions, this ensures continuity within the Proton Group. It will also ease the transition of the future CEO of PONSB and this can only be good for the venture,” added Syed Faisal.
It’s a happy ending afterall. CHANGE
Lol…Proton going to get a Chinaman boss.
Proton needs someone who is strict and ruthless to deal with their deceitful suppliers. Let’s see if he can last one year in the toxic environment of Proton.
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Hahahahahah…
“He has done an impeccable job in his short tenure at PHB. Under his watch, Proton had rolled-out four new models in a span of eight short months.”
Impeccabe job?
1) Perdana failed. Just a rebadge and only gomen officers buy it
2) Ertiga failed. Sales are too low to recoup royalty payment to Suzuki Japan
3) Persona – sales are also very bad. No volume
4) Saga – only success. This makes up 90% of Proton’s total sales.
So what impeccable job is this? Proton just lost RM1.6 billion the last financial year just ended.
impeccable failure.
U do realise hes only had the job for a year or so?
Can u name me any CEO in the world that managed to roll out 4 new models within 1 year on the job?
So shy. This is why Proton has failed over the years. Even when the company sales are so bad and they lose RM4 million per day also, they are given praises a good job has been done and IMPECCABLE.
The past one year, Proton borrowed RM1.5 billion plus another RM1.8 billion to keep the company afloat.
Even with that borrowings, Proton officially announced a loss of RM1.6 billion.
You could say Proton lost RM1.5 bil + RM1.8 bil + RM1.6 bil in just one year. Around RM4.9 billion down the drain.
Is this Impeccable?
lose billions also say job well done
Is this another fake news like Malaysia got cheapest petrol in the world and cheapest car prices in the world?
Proof
Same like local university, fail also, still can get praises and good job.
Siok sendiri mind set…good luck in your life man…
Appreciate if you could give 1 or 2 example of proton’s expertise?? I stress, cuz i can’t think of one
Look at a brighter side. Proton can infect Geely with their lazy qualities. Then when the whole Geely and possibly the whole China manufacturing industry got lazy. Then we may be ahead of them.
It’s a blessing in disguise. Old saying … when you can’t beat them, pull them down with you.
Without that certain someone remote controlling P1, it is now taking sensible actions. Kudos to gov for allowing it to chart its own future independently.
Mari puji minyak naik..
Mari puji Harvey, Irma, & Jose yg naikan minyak…
Sendiri up vote, sendiri syok. Mari kita puji john
Aww. Did someone play ur game better than u did? Well, let me spankem around for u. Lolz!
Poor john…. Gotto up vote himself when can’t get enough sapot but still kantoi in the end. Pity him
Habis la Proton workers. Now 20 years all lepak and rilaks. Wait when Geely take over fully and bring mainland workers in. They work like robots. No such thing as truancy also.
Now Proton plant got bring problem of truancy aka tuang. Mainland people don’t tolerate truancy at all. Also, when they see the lepak attitude of Proton workers, they gonna get shock
Be positive. This an impeccable lifetime opportunity for Proton workers to improve & do something worthy atlast.
Impeccable disappointing news for bashers. Now he must bash something else kawkaw.
Proton became worse under DRB. Proton became even worse past 2 years and must borrow billions. Now get promote for this.
BS. I work in Proton and everyone knows that i work hard 24/7
Typical NL mindset… Blame here, blame there. When failure, can only blame others for own laziness. P1 is like Titanic, bringing the Rakyat with it
What will Proton do when China CEO says he wants to cut workforce from 12,000 to 6000?
China CEO says Mitsubishi in Thailand produces 320,000 cars with a mere 6000 workers.
Here, Proton has 12,000 workers producing 60,000 cars.
What will Proton do?
GREAT!
The back one. Smiling all the way. The front shaking hands looks worried. The other one looks like maybe I won’t be here long.
Proton > all
Geely > all
What the heck is > or < all uh???
Some of this people trying to pretend smart.. His IQ < 30% may be.
Proton is like a women. Befriend with one after another but none will last long.
No problemo as long got big bro Geely sapot.
With this kind of attitude, even with Bank Negara sapot also big problem
One of the best news ever. Tahniah and Syabas Geely Malaysia for the incoming tongsan CEO to teach the local company how to make cars. We cannot wait to see more changes at the ex-national car company.
Incompetence is the word for these half past six. Hopefully that ex MCA guy will be the ceo.
Proton is in for the China absolute business wrath… they have no room for empathy
Hope Proton is able to roll out BMW like cars at below RM50k or less each….
You know that song, the one that goes “Dream on, dreeaam oonn”.
Yeah, do exactly that.
If that car uses wood and nipah roof, your idea might be very realistic indeed.
Finally this incompetent mud has left! New life to proton!
Proton boleh tukar, Malaysia Boleh!!
Proton boleh tukar, tapi Malaysia PM boleh tak?
We have a Japanese man in Masuzumi Ogawa as Director of Quality and the new Proton CEO could potentially be a Chinese person.
Looks like it could be a very strict working environment starting from October onwards.
You had german guy wolfgang in factory previously. How did the company end up?
It’s only very strict working environment in MY. When they slack far too long, 32yrs to be exact…
I ain’t gonna work under a jepunis director…
Hopefully everyone is happy now, and move on.
A strong leadership has no fear of implementing change to the organisation structure and operation. However, there will be some resistance to changes but these rebels need to be eliminated. Not an easy task to transform a company of 30 years of culture within 2 years by 2020. Good luck to your new team working with new CEO from Geely.
Make Proton Great Again! MPGA!
MAGA!
Proton have more safety features, Proton doesn’t have any rear axle problem and Proton also have EV vehicles where Perodua doesn’t have any safety features, Perodua also having rear axle problem and Perodua also doesn’t have any EV vehicles. Buy Proton better, don’t buy Perodua
Good marketing??? I have both model and I know which one is better quality, reliable, cheaper maintenance and good RV.
A hard reboot is needed to start off with.
Review, cancel & renegotiate lop sided contracts.
(Alike Brahim’s 25 year catering contract with MAS)
Review manpower requirement and come out with a leaner business plan.
No use having too many low or no yield models.
With only the Tg Malim plant left , the first task is to slash the over bloated work force.
This may not be a good move with GE coming around but time for HR to crack the whip and ship out the underperforming lot.
Desperate times calls for desperate measures.
This is a good news, at least Geely’s CEO is true experiences and competence as an automotive personnel which Malaysian is lacking for international competitiveness.
Now proton clowns are squeeze by their china lord, so got to say nice thing. Wait till the day the relationship turn sour (just like mitsu, suzuki, renault, honda) they will condemn Geely kow kow.
It’s funny thing that the doing something has no economical return is considered an achievement…..rolling out tons of no one buy cars…achievement…
After so many years they the proton never expect this to happen a china man sitting on the top post.well now everyone know what is chinaman business
lol bye bye
Padan muka Proton. This is what you get for betraying your biggest customer base. The Malaysian rakyat. When you started in 1985, we supported you. But you betrayed us many times. Now many of us would rather by Korean than from you. Padan muka you. Hope you die faster, so that can save rakyat’s money
good riddance. its time to move on to the next phase.
Hopefully CEO not run away after 1 year…hahaha
Mana mau taruh maruah, with Cina as the boss??
Mana Ketuanaan Melayu??