Shahril Ridza Ridzuan will become CEO of Malaysia's 526.8 billion ringgit (US$168.4 billion) Employees Provident Fund, effective April 16, according to an announcement Tuesday on the EPF's website.
With his appointment to a two-year term, Mr. Shahril will replace Azlan Zainol, who leaves after 12 years as CEO of the retirement benefits scheme for Malaysian workers.
Mr. Shahril has served as the Kuala Lumpur-based EPF's deputy CEO for investment since 2009. An EPF spokeswoman couldn't immediately provide information about plans to name a new deputy CEO.
The leadership transition comes a month after the EPF announced a record 27.5 billion ringgit distribution for EPF participants. The 6.15% dividend was the highest rate enjoyed by participants since 2000, according to the EPF announcement.