Iris clarifies role of executive committee
Iris Corporation Berhad (ICB) clarified that the role of its executive committee (exco) that was chaired by Iris non-independent non-executive director Nik Azman Mohd Zain, was to bring improvement in the government-linked company.
Nik Azman, who is also Felda Investment Corporation Sdn Bhd (FIC) director, was appointed as a Iris board director in June 2015 following FIC's acquisition of 21.33 percent of Iris's stake.
"With reference to your article in Malaysiakini's website, Iris would like to clarify that an exco of the board of directors was formed after Iris Group MD and CEO Tan Say Jim, Iris Group MD and CEO,who is on leave since Nov 7, 2016.
"The exco comprises independent non-executive director Francis Chan, deputy managing director Hamdan Mohd Hassan, who was replaced by independent non executive director Abu Talib Bachik on Jan 23, 2017, and chaired by Nik Azman," said Iris's head of marketing Chong Oi Lin in a statement.
Decision maker of Iris is the board of directors, a statement from Iris says.
Iris Corporation Berhad (ICB) clarified that the role of its executive committee (exco) that was chaired by Iris non-independent non-executive director Nik Azman Mohd Zain, was to bring improvement in the government-linked company.
Nik Azman, who is also Felda Investment Corporation Sdn Bhd (FIC) director, was appointed as a Iris board director in June 2015 following FIC's acquisition of 21.33 percent of Iris's stake.
"With reference to your article in Malaysiakini's website, Iris would like to clarify that an exco of the board of directors was formed after Iris Group MD and CEO Tan Say Jim, Iris Group MD and CEO,who is on leave since Nov 7, 2016.
"The exco comprises independent non-executive director Francis Chan, deputy managing director Hamdan Mohd Hassan, who was replaced by independent non executive director Abu Talib Bachik on Jan 23, 2017, and chaired by Nik Azman," said Iris's head of marketing Chong Oi Lin in a statement.
She said the decision maker of the company was the board of directors as "the exco's main function was to provide on behalf of the board, oversight on the business renewal and improvement in Iris".
"Exco regularly reports to the Board on its work and for decision making," she said.
Chong was responding to an article carried by Malaysiakini. In the article, a source had questioned Nik Azman's position in Iris.
Beside Nik Azman, another FIC director Ehsanuddin Mohd Harun Narrashid, who is also BN Kota Tinggi MP, was also appointed as a member of Iris board of directors.
A source who was familiar with Iris' internal affairs had claimed FIC was indirectly run by Iris, the inventor of the world's first e-passport.
"Nik Azman Mohd Zain was appointed into Iris' board of directors because he is an FIC director. He should be a non-independent and non-executive director, but he is also the chairperson of the executive council," the source told Malaysiakini.
Iris chairperson Razali Ismail had told the news portal the GLC was looking into the position held by Nik Azman.
"I have (instructed) someone to find out how proper it is. But this is done for a particular purpose.
"He chaired the executive council. It is true and we cannot deny that," said Razali yesterday.
