“On behalf of the board of directors, the leadership team and all staff at PNB, I would like to take the opportunity to express our deepest gratitude to Zeti for her visionary leadership and invaluable contribution to PNB, ASNB and the PNB group of companies these past three years.
“She brought with her close to four decades of experience in public service and institution building from which PNB has greatly benefited,” he was quoted as saying.
Earlier, it was announced that Zeti had decided not to renew her tenure upon the completion of her three-year term tomorrow.
She had officially written to Prime Minister Muhyiddin Yassin, who is also the chairman of Yayasan Pelaburan Bumiputra (YPB), to express her intention not to renew her tenure.
PNB said the appointment of a new group chairman will be made by YPB in due course.
PNB said since her appointment as group chairman in 2018, Zeti had driven PNB’s transformation journey which saw the institution achieving great strides across three key areas.
“Firstly, the diversification efforts into a broader range of asset classes and global markets saw PNB’s exposure in international assets growing to 12.3% by the end of 2020, strengthening the investment portfolio from concentration in domestic equities.
“Secondly, PNB managed to strengthen its risk and liquidity management capabilities, focusing on lowering the high percentage of cash holdings with greater management of foreign exchange risk exposures.
“Finally, PNB embarked on a group-wide organisational transformation to engender digital innovation, operational efficiency and various initiatives to develop the talent pool,” it added.
Meanwhile, in a statement issued by PNB, Zeti said she was honoured to have served as PNB group chairman.
During these three years, she said she had implemented the organisational transformation agenda “in possibly the most tumultuous and transformative period ever experienced”.
She said the transformation agenda had spurred greater potential for performance and innovation, as well as greater efficiency.
“PNB is now well-positioned to do even better in the future and to achieve the long-term value creation that we aim to achieve for our unitholders,” she added.