EPF appoints Ahmad Zulqarnain Onn as new CEO

KUALA LUMPUR: The board of the Employees Provident Fund (EPF) has appointed Ahmad Zulqarnain Onn as the fund’s new chief executive officer, effective Feb 19, 2024.

Ahmad Zulqarnain succeeds Datuk Seri Amir Hamzah Azizan, who was appointed Minister of Finance II after leading the fund since March 1, 2021.

According to the EPF, Ahmad Zulqarnain previously helmed Permodalan Nasional Bhd (PNB) and was also a former CEO of Danajamin Nasional and the deputy managing director of Khazanah Nasional Bhd.

“The EPF Board extends their heartfelt gratitude to Datuk Seri Amir Hamzah for his exemplary service to the EPF and significant contributions and achievements, which have positioned the EPF for continued success.

“At the same time, we would like to welcome and congratulate Ahmad Zulqarnain on his appointment as the new EPF CEO. With his extensive corporate experience, we are looking forward to his dynamic and focused leadership to drive the EPF to greater heights,” said EPF chairman Tan Sri Ahmad Badri Mohd Zahir in a statement.

He added that the entire EPF team is committed to ensuring a seamless transition and looks forward to Encik Ahmad Zulqarnain’s leadership and strategic direction in fulfilling EPF’s mission to safeguard the retirement future and wellbeing of EPF’s 15.9 million members.

In a separate statement, PNB announced Ahmad Zulqarnain’s resignation from the company, effective Feb 16, 2024.

“On behalf of the board of directors, management and staff at PNB, I extend our heartfelt thanks to Zulqarnain for his invaluable contributions to PNB, ASNB and PNB’s group of companies during his tenure here.

“His leadership has been instrumental in laying out the new three year strategic plan and steering PNB towards improving portfolio returns, operational agility, reinforcing the organisation’s ability to be progressive while effectively respond to dynamic challenges,” said PNB chairman Raja Tan Sri Arshad Raja Tun Uda.

He added that the new president and group chief executive for PNB will be announced in due course.