Three-man board replaces 1MDB's six directors

Kuala Lumpur

MALAYSIA'S Finance Ministry has appointed a new three-man board of directors for 1MDB to replace the previous six-member board that had been found to be remiss in its duties at the controversial state-owned development company by a parliamentary select committee.

Finance Ministry secretary-general Mohd Irwan Serigar Abdullah will chair the board which includes Norazman Ayob, senior private secretary to the chief secretary of the government, and Kamal Mohd Ali, Prokhas chief operating officer.