Proton chairman exits

Datuk Seri Mohd Nadzmi Mohd Salleh has resigned as Proton Holdings Bhd Chairman and Director with immediate effect.

In a filing to Bursa Malaysia today, the national auto maker said his
resignation was part of a term stipulated in the sales and purchase agreement
(SSPA) between Khazanah Nasional Bhd and DRB-Hicom Bhd.

"We wish to highlight that the resignation of Nadzmi as the chairman of the
board of Proton and all other appointments by virtue of his position as

director, is part of the terms of the SSPA," Proton said.

Nadzmi, 57, nominated by Khazanah, was appointed Proton Chairman on Jan 1,
2009 and was also chairman of the boards of various subsidiaries within the
Proton group of companies.

He previously served the national car company as its Managing Director
between 1993 and 1996.

On Jan 16, DRB-Hicom entered into a SSPA with Khazanah to acquire
42.74 per cent of the issued and paid up share capital of Proton for RM1.291
billion.

Prior to the agreement, Nadzmi had signaled his intention to acquire the
government investment arm's stake in Proton. -- Bernama