Axiata names Nik Rizal Kamil as Group CFO

• Appointment crucial for the group's aim to become a sustainable dividend firm
• Previously the group CFO at RHB Bank, a position he held since February 2021

Axiata Group Bhd has appointed Nik Rizal Kamil Nik Ibrahim Kamil (pic) as its group CFO, effective from 1 Jan 2024.

The company states that Nik Rizal's appointment is pivotal in driving the group's aspiration to become a sustainable dividend company. He will succeed Lila Azmin Abdullah, who has held the position of acting group CFO since March 2023, concurrently with her role as the Group Chief Corporate Development Officer at Axiata.

Nik Rizal joins Axiata with a wealth of experience and knowledge in business finance, investments and accounting. His last position was as group CFO at RHB Bank, a position he held since February 2021.

Prior to that, Nik Rizal was with Khazanah Nasional as Executive Director, Investments, leading investment and divestments projects, value creation activities and overall private equity asset class strategy execution both domestically and internationally in the areas of Telecommunications, Media and Technology. He also served on the boards of Telekom Malaysia and Astro Malaysia Holdings Bhd.

His previous work experience also includes stints with Royal Dutch Shell Plc, Arthur Andersen & Co (now known as Ernst & Young Plt) and Coopers & Lybrand (now known as PricewaterhouseCoopers) in London.

Nik Rizal holds a MSc Finance from London Business School and a BSc (Hons) Economics & Accounting from University of Bristol, United Kingdom. He is also a Fellow Chartered Accountant  and Business Finance Professional with the Institute of Chartered Accountants in England and Wales and a member of Malaysian Institute of Accountants.

Vivek Sood, group CEO and managing director of Axiata said, “On behalf of the board and management of Axiata, I would like to record our sincere thanks to Lila for her enormous contribution in helming the acting group CFO role while also fulfilling her duties as the group chief corporate development officer. At the same time, I am pleased to welcome Nik Rizal into the Axiata leadership team. His background in both finance and investment portfolio management makes him a right fit for this pivotal role as group CFO, as Axiata embarks on the next phase of our transformation journey from telco to TechCo." 

Commenting on Nik Rizal's capabilities, Vivek said, “Nik Rizal possesses significant experience and a profound understanding of portfolio management in the Telecoms, Media and Technology and Financial Services industries. His deep expertise in all aspects of corporate finance, accounting and financial planning will drive Axiata’s strategic priorities for disciplined capital allocation, execution on portfolio strategy and treasury management. I am confident that Nik Rizal's leadership capabilities will enable the group to further optimise our investment portfolio to ensure sustainable growth and long-term value for our shareholders."

Meanwhile, Nik Rizal said “I look forward to joining Axiata as the group progresses to the next phase of its value creation journey and being a part of an impressive team dedicated to delivering on its strategic priorities, towards Axiata’s vision of advancing Asia.”