November 20, 2008 21:20 PM E-mail this news to a friend Printable version of this news
KUALA LUMPUR, Nov 20 (Bernama) — Malaysia Airlines has extended the contract of its managing director/ chief executive officer, Datuk Seri Idris Jala, for another three years until 2011.
His current employment contract was to have expired on Nov 30.The extension is effective from Dec 1, 2008 to Nov 30, 2011.
Malaysia Airlines chairman Tan Sri Dr Munir Majid said: “I am very pleased to announce that a mutual agreement has been reached between the Board and Idris.
“This is good news for all of us at Malaysia Airlines as Idris is the right man for the job.”
The contract was formalised after extensive engagements with key stakeholders and consideration of the broader Government Linked Company (GLC) remuneration policy, he said.
“Idris has steered the company out of its financial crisis in just two years and has set the vision for the airlines transformation into the world’s Five Star Value Carrier.
“There is no better CEO to see us through these turbulent times of economic and financial crisis and to ensure that Malaysia Airlines becomes one of the best in the world,” said Dr Munir.
Commenting on the contract extension, Idris said that he was glad to have the opportunity to complete the work to transform MAS.
“My work at Malaysia Airlines is still not done. The operating environment is the toughest ever and my goals are, in the short and medium term, to sustaining resilience in the midst of adversity and over the long term, ensure we become a Five Star Value Carrier.
“Having worked with the MAS team for the past three years, I have total confidence in our collective ability to achieve the goals,” he said.
Recently, Aviation Week rated Malaysia Airlines and Singapore Airlines as the two top airlines in the world with the highest resilience to face the current economic crisis.
“This is clear testimony of the excellent work that has been done to turn around Malaysia Airlines in the last three years. This puts us in good stead to emerge a winner in the next few years,” Idris added.
Under his leadership, Malaysia Airlines achieved its highest ever profit in 60 years of RM851 million in financial year 2007.
Prior to joining Malaysia Airlines in 2005, Jala spent 23 years at Shell.
– BERNAMA
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