While the Act provides that the minister may at anytime revoke any board appointment without giving any reason, the particular 2(2) subparagraph also stipulates the minister shall revoke the appointment of the chairman or any other director if he has been found guilty of a serious misconduct concerning his office, has failed to fulfil his obligations or duties under the Act, or the rules and by-laws of the bank, or has been absent — except with leave — from three successive board meetings.
KUALA LUMPUR (Nov 27): Tan Sri Shukry Mohd Salleh (pic) has been ousted as chairman of Bank Rakyat’s board with immediate effect, as he is allegedly involved in the tampering of the original audit report on 1Malaysia Development Bhd (1MDB) when he was the chief private secretary of former prime minister Datuk Seri Najib Razak.
In a statement yesterday, the entrepreneur development ministry said Shukry’s ouster is in line with the Bank Kerjasama Rakyat Malaysia Bhd Act 1978, Section 5 under Schedule 1, subparagraph 2(2).
