Malaysia state investor 1MDB's CEO quits as US$3b IPO looms: sources

Kuala Lumpur

THE chief executive of debt-ridden Malaysian state investor 1 Malaysia Development Bhd (1MDB) has resigned less than two years after his appointment, three people aware of his departure said on Monday.

The departure of Mohd Hazem Abdul Rahman, appointed 1MDB's managing director and chief executive officer in March 2013, may further delay a long-expected US$3 billion initial public offering (IPO) of its power plant assets, the people said.