AIRASIA BHD ’s top officials Tan Sri Anthony Francis Fernandes and Datuk Kamarudin Meranun were formally appointed as directors of MALAYSIAN AIRLINE SYSTEM BHD.MAS said on Thursday, Aug 11 their appointments to its board took effect on the same day. Tony Fernandes, 47, was appointed AirAsia Bhd group chief executive officer of AirAsia in 2001 and still holds the position until now.
Kamarudin is AirAsia’s group deputy chief executive officer. Kamarudin, 50, was appointed a director of AirAsia on Dec 12, 2001. In January 2004, he was appointed an executive director and on Dec 8, 2005, he was re-designated to group deputy CEO.
Their appointments were part of the collaboration between MAS and AirAsia. Under the corporate exercise, Tune Air will hold 20.5% of MAS and Khazanah Nasional Bhd will hold 10% of AirAsia Bhd under a share swap announced by the companies on Tuesday, Aug 9.
Khazanah has also proposed to acquire 10% of AirAsia X, with the value based on the latest closing price.
Datuk Mohamed Azman Yahya was appointed as a non executive director and Rashdan Mohd Yusof as alternate director AirAsia.
Tengku Datuk Azmil Zahruddin had resigned as MAS managing director and would join Khazanah as director of investments effective Sept 12.
An executive committee, comprising Mohamed Azman, Rashdan, Fernandes and Kamarudin will oversee the management of MAS until a new MD us appointed.
MAS and AirAsia are to issue free warrants to each others’ shareholders.
Independent advisers will be appointed to advise minority shareholders on the proposed warrants.