September 24, 2018 / 11:25 AM / a year ago

Malaysia's CIMB says chairman to step down by year end

KUALA LUMPUR, Sept 24 (Reuters) - CIMB Group Holdings Bhd , Malaysia’s second biggest bank, said on Monday its chairman Nazir Razak would step down by the end of the year.

Nazir has been CIMB’s chairman since 2014. He has worked at the bank for 29 years, including 15 as chief executive.

Nazir, the brother of former Malaysian Prime Minister Najib Razak, said he had decided to leave on completion of the bank’s four-year recalibration plan, launched in 2014.

CIMB said the board would decide on the next chairman and the exact date of handover in due course. (Reporting by A. Ananthalakshmi; Editing by Mark Potter)

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