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Monday, March 19, 2012

Nadzmi exits Proton (deserved it)

KUALA LUMPUR: Datuk Seri Mohd Nadzmi Mohd Salleh has resigned as Proton chairman and director with immediate effect.

In a filing to Bursa Malaysia on Friday, 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.


Rust Blisters issues "built in" in Proton from 1993 to 1996.  The culprit: SALTY glue used in Welding spots.  Apparently, this issue started since 1988 and NOTHING's Been done to solve this issue during his tenure.  In fact, ALL PROTONS made from 1993-1994 have THIS RUST ISSUE.  This issue's SOLVED Finally in 1999 as Proton make from 1999 onwards reportedly have NO RUST ISSUES.  In short, this is a CLOSE ONE EYE MD which take ZERO Action to address the RUST Issue.  That's why I said this Chairman deserved the Boot.  

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