Russell new BTMA president as Khokon resigns

Showkat Aziz Russell, chairman of Amber Group, was elected president of the Bangladesh Textiles Mills Association (BTMA) yesterday.   

After an emergency meeting of the association, the board elected Showkat Aziz Russell new president of BTMA.  

The appointment came after Mohammad Ali Khokon stepped down from his post of BTMA president.

Russell was included on the board instead of its director Ahnaf Aziz, who also resigned the same day.

The association’s Secretary General Brigadier General (Rtd) MD Zakir Hossain told TBS that the president has resigned from his position due to his illness and busy schedule from his own business.

However, he will continue as part of the board’s director, he added.

In an immediate reaction, Russell said on behalf of the BTMA board, he congratulated the interim government and expressed condolences to the brave students who sacrificed their lives in the recent violence.

He also expressed gratitude to the government for the decision to import fertilisers and supply gas to industries.

He said, “At this moment, the liquidity crisis is another major challenge for the industry.”

Previously, Russell served as senior vice president at BTMA for three terms and as director over ten years in different terms, according to the BTMA statement.

He is also serving as the chairman of the United Commercial Bank and a director of the Bangladesh Cricket Board.

On the other hand, Mohammad Ali Khokon served the BTMA as president from 2019, after completing his two biannual terms and before that, he also served as vice president for one term.

On 10 April 2023, the association made an amendment to extend the conditions to continue four terms in a row instead of three.

The association’s Secretary General Brigadier General (Rtd) MD Zakir Hossain told TBS that the president has resigned from his position due to his illness and busy schedule from his own business. 

In his resignation letter, Khokon wrote, “This decision was not made lightly. As I have shared with some of you earlier, both my physical health and business have been suffering, which now needs my attention.

“After a period of personal reflection and consultation with my family, I have concluded that it is the right time for me to resign. I believe this transition will allow the association to benefit from fresh perspectives and leadership.”

Industry insiders said in the aftermath of Sheikh Hasina’s fall, Khokon, like other business leaders who benefited from the previous regime, went into hiding.

Earlier, a faction of BTMA leaders removed the president’s portrait from the wall but later reinstated it on the condition of his resignation.

It has been suggested that the next board meeting may result in the removal of three to four additional board members who are associated with the former regime and allegedly spent money to suppress the student protests.