Corporate Governance

The Maybank Foundation is committed to creating a highly transparent and objective Corporate Governance system consistent with international standards. Our Corporate Governance mechanisms and policies are continuously enhanced to increase both management flexibility and supervisory effectiveness.

The Board of Trustees is made up of a diverse group of highly talented individuals who bring a range of diverse skills and perspectives to the Foundation. The trustees demonstrate both rich industry experience and profound knowledge of economic, environmental and social development efforts. They comprise five members, namely:

    a) Tan Sri Dato’ Megat Zaharuddin
    Tan Sri Dato’ Megat Zaharuddin Megat Mohd Nor was appointed as a Director and Chairman of Maybank on 1 October 2009. He was appointed as Chairman of Maybank Foundation Board of Trustees in 2013. He was an Independent Non-Executive Director of Maybank from July 2004 to February 2009. He built an outstanding career in the oil and gas industry for 31 years with the Royal Dutch Shell Group of Companies and was a Regional Business Chief Executive Officer and Managing Director, Shell Exploration and Production B.V. prior to his retirement in early 2004. He was also the Chairman of Maxis Communications Berhad from January 2004 to November 2007, Etiqa Insurance & Takaful from January 2006 until February 2009, Malaysian Rubber Board from February 2009 to May 2010, Director of Capital Market Development Fund from January 2004 to January 2010 and Director of Woodside Petroleum Ltd, a company listed on the Australian Securities Exchange, from December 2007 to April 2011.

    His current directorships in companies within the Maybank Group include as Chairman of Maybank Investment Bank Berhad and President Commissioner of PT Bank Internasional Indonesia Tbk. He is also a Director of the ICLIF Leadership and Governance Centre, Malaysia.
    b) Dato' V. Danapalan
    68 year-old Dato Danapalan, a Malaysian, was appointed Independent Non-Executive Director of Telekom Malaysia on 25 April 2008 and made its Senior Independent Director on 21 May 2009. He graduated with a Bachelor of Arts (Hons) degree in arts from University of Malaya as well as a Masters Degree in Public Administration from the Pennsylvania State University in USA. He previously served as Chairman of the Malaysian Communications and Multimedia Commission (MCMC) between February 2004 and March 2006 when he retired. Formerly a Secretary-General of the Ministry of Science, Technology and Environment between December 1991 and March 1998, Dato’ Danapalan has a wealth of experience in [all matters related to the environment] and is seen as an apt candidate for our Board of Trustees. His directorships in other companies include Affin Fund Management Berhad, Sirim QAS International Sdn. Bhd., Bank Simpanan Nasional as well as the Universiti Telekom Sdn. Bhd. whilst his other trusteeship is in M.U.S.T. Ehsan Foundation.
    c) Datin Paduka Marina Mahathir
    54 years of age, Malaysian. She has had an impressive career in various non-governmental organisations including the founding member of the Malaysian AIDS Council in which she also served as Chairman on the Board of Trustees of the Malaysian AIDS Foundation. A graduate with a Bachelor of Arts (Hons) in International Relations from the University of Sussex in the United Kingdom, Marina Mahathir has been instrumental in fronting the fight against HIV and AIDS in Malaysia where she served concurrently as Vice-President of the AIDS Society of Asia & the Pacific and an Asia Pacific NGO delegate of the UNAIDS Programme Coordinating Board between 1997 and 2001. She was also a member of the International Steering Committee, The Women’s Forum on the Economy and Society of France. Since 2009, she has been serving as a member of the International Advisory Council and the Asian University for Women of Bangladesh as well as a Board member of Sisters in Islam and Women’s Aid Organisation (WAO)
    d) Mr. Spencer Lee Tien Chye
    Born in Penang, 61 year-old Spencer Lee Tien Chye was an accountant by discipline and certified chartered accountant in the United Kingdom. He was appointed a member of the Malaysian Institute of Accountants in 1975. Other companies in which he held directorships were MPI in 2009, Boardroom Pte Ltd in 2011 and he was also a Commissioner of BII in 2009. Spencer Lee has no involvement in any non-governmental organizations or any charitable organizations but we believe his experience will bring value to our cause.
    e) Pak Umar Juoro
    53 years of age, Indonesian. He has been Commissioner of PT Bank Internasional Indonesia since November 2002 and Chairman Supervisory Board of Bank Indonesia (BSBI). He serves as the Member of National Economic Council (KEN). He has been an adviser of the Habibie Center and the Center for Information and Development Studies. He is graduated from the Department of Physics, Bandung Institute of Technology (ITB), he continued to pursue, and has earned Master of Arts in Economics from the University of Philippines in and Master of Art in Political Economy from Boston University, USA.