1MDB board to step down in July, says report
(TMI) – In a move to mitigate the mounting criticism against debt-laden 1Malaysia Development Bhd (1MDB), the board of directors of the strategic investment fund will be made to step down as early as July, said sources with knowledge of the matter.
The sources said there could be changes in 1MDB’s board as well as its advisory committee. “This will happen in July or August,” they told The Edge Financial Daily.
Another source said not only the board of directors, but 1MDB’s advisory board would also step down en bloc. Prime Minister Datuk Seri Najib Razak is the chairman of the advisory board.
