KUALA LUMPUR - Former Malaysia Prime Minister Mahathir Mohamad has resigned as chairman of Malaysian car manufacturer Proton Holdings.
The resignation was effective from Wednesday (March 30), a press release said.
A letter of resignation has been sent to Datuk Seri Syed Faisal Albar, group managing director of DRB-HICOM Bhd, on Wednesday.
Dr Mahathir, who served as prime minister from 1981 to 2003, founded Proton in 1983 with the goal of creating a national car and boost the country’s automotive industry.
“We would like to express our gratitude and recognise Tun Dr Mahathir’s role as the creator of the national car company,” Proton said in a separate statement issued after the announcement.
The announcement comes two weeks after the Malaysian government sacked Dr Mahathir from his position as adviser to the national oil corporation Petronas.
Proton Holdings is owned by Malaysian auto-to-construction conglomerate DRB-HICOM Berhad. The company, which is deeply in the red, reportedly needs government funds to stay afloat. The carmaker also relies heavily on government-awarded business.
Dr Mahathir also announced his resignation as chancellor of Petronas Technology University and as adviser to two development authorities. He has also resigned as the advisers to the Langkawi Development Authority and the Tioman Island Development Authority.
Here is the full statement:
Tun Dr Mahathir bin Mohamad has resigned as Chairman of Proton Holdings, effective March 30, 2016.
A letter of resignation has been sent to Group Managing Director of DRB-HICOM Berhad, Dato Seri Syed Faisal Albar yesterday.
Dr Mahathir has also relinquished his post as the Chancellor of Universiti Teknologi Petronas, also effective Mar 30, 2016. His decision has been communicated to UTP Rector Datuk Abdul Rahim Hashim.
Apart from that, Dr Mahathir has also resigned as the advisors to the Langkawi Development Authority (LADA) and the Tioman Island Development Authority (TIDA). The Chief Secretary to the Government has been informed of these resignations.
Office of Dr Mahathir bin Mohamad
31st March 2016