CEO Resigned - Hong Leong Takaful

Hong Leong MSIG Takaful Bhd (HLMT) is slated to see a fifth leadership change since it started operations in 2006 following news that Wan Mohd Fadzlullah Wan Abdullah has resigned as CEO of Islamic insurer.

Wan Mohd Fadzlullah put in his papers last Friday and is currently on garden leave. It was learnt that HLMT has not appointed an interim CEO to stand in for Wan Mohd Fadzlullah. Wan Mohd Fadzlullah decided to step down after serving the company as its top executive since September 2013 due to differing opinions with its management.

Wan Mohd Fadzlullah, previously the executive vice-president of Takaful Ikhlas Sdn Bhd, could not be reached for comment.

Wan Mohd Fadzlullah succeeded Mohd Fauzi Yaakub, who was at one time CEO of Uni.Asia General Insurance Bhd, who served a year in HLMT. It was widely speculated that Fauzi's exit was due to a dispute over HLMT's future strategic direction with HLA Holdings Sdn Bhd, which is part of HLFG, and owns a 65% stake in HLMT.

HLMT's first CEO in 2006 was Ezamshah Ismail, who served the company, then known as Hong Leong Tokio Marine Takaful Bhd, for about two years. He was followed by Abdul Latiff Abu Bakar, who was the company's longest serving CEO. He helmed the company for about four years from December 2008 but vacated his post at HLMT to head Takaful Ikhlas.

Wan Mohd Fadzlullah, a Universiti Sains Malaysia graduate, started his career with Aetna Universal Insurance Bhd (later known as ING Insurance Malaysia). He spent 15 years at the company serving in various capacities. Subsequently, he joined Amal Assurance Bhd (later known as CIMB Aviva Assurance Bhd) as the assistant general manager responsible for business development.

He joined Takaful Ikhlas in September 2002 and was next in rank to Datuk Syed Moheeb Syed Kamarulzaman who was president and CEO of the company for 10 years before he retired.

HLMT is a joint venture between Hong Leong Financial Group Malaysia (HLFG) and Japan's Mitsui Sumitomo Insurance Co Ltd (MSI).