News: SBI Offshore appoints Mirzan bin Mahathir as interim CEO


SBI Offshore appoints Mirzan bin Mahathir as interim CEO

The ousted chairman Mirzan bin Mahathir has been reappointed as the interim CEO as the odds of finding a replacement in a short time with similar experiences and up-to-date knowledge of the ongoing RTO are minimal.
SBI Offshore appoints Mirzan bin Mahathir as interim CEO

Mirzan bin Mahathir has been overall in charge of the company's reverse takeover (RTO) of the Berlitz group of companies, and key professionals in the RTO have opined that his strategic input is "invaluable" to the continued RTO process. 

He has been instrumental in ensuring that the company is able to complete the outstanding matters relating to the RTO as well as to fulfill the company's legal obligations in relation to the deal. 

Furthermore, if Mr Mirzan leaves, there will only be four employees left at the firm. 

The RTO project is currently in an advanced stage, and Mirzan has been deeply involved in leading commercial negotiations with the vendor and driving the transaction forward while SGX is assessing the pre-admission notification. 

Following the completion of the RTO, existing directors of the company will resign from their positions as directors of the company. 

As per the latest report in Business Times, none of the company's personnel or employees, including Mirzan, have been identified as executive officers of the enlarged group, and there are no discussions on the retention of service of existing personnel of the company, including post-RTO. Only time will tell how things shape up for SBI Offshore and who all continue to be part of the firm after the RTO is completed.

Image Credits: Maritime Logistics Professional

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Topics: Leadership, #Appointments

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