KUALA LUMPUR, June 26 — Former 1MDB chairman Tan Sri Mohd Bakke Salleh is now chairman of Felda, replacing Tan Sri Megat Zaharuddin Megat Mohd Nor.

Economic Affairs Minister Datuk Seri Azmin Ali confirmed this in an official statement this evening.

"I acknowledge Megat’s wish to resign as Felda’s chairman effective June 30, 2019. I respect and agree with his decision.

"Upon discussion with the prime minister, we have agreed to appoint Mohd Bakke as the new chairman of Felda,” the statement read.

Azmin said Mohd Bakke will serve Felda for two years effective July 1, 2019 to June 30, 2021.

Azmin further thanked Megat for his contribution and noted his efforts in rebuilding Felda and ensuring the sustainability of the plantation industry, including the future of its settlers.

"He and his new Felda management have worked tirelessly and are committed to completing the white paper which outlines a rehabilitation plan towards Felda’s sustainability,” Azmin said in the statement.

Meanwhile, Azmin also said he is confident that Mohd Bakke’s leadership will continue to lift Felda.

"Mohd Bakke is a credible corporate figure. He has extensive experience in the corporate sector including the plantation industry.

"I am convinced he has the leadership to continue efforts to restore Felda in ensuring its sustainability and the future of its settlers,” he said.

Mohd Bakke is currently the managing director of Sime Darby Plantation Bhd.

Megat tendered his resignation on Monday, just 11 months after taking up the post.

Prime Minister Tun Dr Mahathir Mohamad said yesterday Megat wanted to resign due to existing health issues.