Bakke, a veteran in the plantation industry, succeeds Megat Zaharuddin Megat Mohd Nor, who will step down on June 30.

Economic Affairs Minister Azmin Ali said in a press statement today that Bakke’s appointment would be effective from July 1 this year to June 30, 2021 — a period of two years.

“Mohd Bakke is a corporate leader with integrity and credibility. He has vast experience in the corporate sector, including in the plantation industry, and will be helpful in Felda’s recovery plan,” said Azmin.

Bakke will be retiring as managing director of Sime Darby Plantation Bhd on June 30, after serving the group for nine years.

According to Felda’s announcement, Megat Zaharuddin’s resignation is effective June 30. He was appointed on July 27 last year.

Azmin said he respected Megat Zaharuddin’s decision to step down and thanked him for his contributions, including for helping to prepare the White Paper on Felda which was tabled and approved by Parliament.

Bakke joined the Sime Darby group as its acting president and group CEO on July 15, 2010, after previously serving as FGV Holdings Bhd (then Felda Global Ventures Holdings Bhd) group president and CEO. He took up the job in FGV in January 2009.