Good News!! Local remain as Temasek CEO, Angmo kana kick out! 3 Cheers for PAP!

[zeroo]

Good News!! Local remain as Temasek CEO, Angmo FT kana kick out! 3 Cheers for PAP!

SINGAPORE state investment arm Temasek Holdings announced on Tuesday it was rescinding the appointment of prominent US businessman Charles 'Chip' Goodyear as its new chief executive due to irreconcilable differences over strategy.

In a statement, Temasek said it had reached an 'agreement' with Mr Goodyear 'not to proceed with his CEO appointment' which was scheduled to take formal effect on Oct 1 when Ms Ho Ching steps down.

The statement said Ms Ho Ching has agreed to continue as Executive Director and CEO.

Mr Goodyear was appointed a member of the Temasek board on Feb 1 and CEO-designate on March 1.

'Four months into the leadership transition, the Temasek Board and Mr Goodyear have concluded and accepted that there are differences regarding certain strategic issues that could not be resolved,' said the Temasek statement.

'In light of the differences, both parties decided that it is in their mutual interests to terminate the leadership transition process and hence the executive relationship with effect from Aug15.'

Mr Goodyear will also step down from the Temasek Board on the same date.

Mr Dhanabalan, Chairman of Temasek Holdings, said: 'It is with much regret that both Chip and the Board have accepted that it is best not to proceed with the leadership transition. We wish Chip all the best in his future endeavours, and are happy that Ho Ching has agreed to continue as Executive Director and CEO.'

Added Mr Goodyear: 'I'm sorry that we are unable to continue with the leadership transition. Temasek has a fantastic platform and I wish the Board, Ho Ching and the team all the best.'

Ms Ho Ching, commenting, said: 'In the short time with us, Chip has started a number of initiatives which I believe will help strengthen the Temasek platform. I am sorry he is unable to continue with the leadership transition, and hope to complete the initiatives that he has started.'

 

[jim007jimmyboy]

Only happen in Sg famiLEE biz



dunno wat to say

 

[Hope]

Re: Good News!! Local remain as Temasek CEO, Angmo FT kana kick out! 3 Cheers for PAP

SINGAPORE state investment arm Temasek Holdings announced on Tuesday it was rescinding the appointment of prominent US businessman Charles 'Chip' Goodyear as its new chief executive due to irreconcilable differences over strategy.

In a statement, Temasek said it had reached an 'agreement' with Mr Goodyear 'not to proceed with his CEO appointment' which was scheduled to take formal effect on Oct 1 when Ms Ho Ching steps down.

The statement said Ms Ho Ching has agreed to continue as Executive Director and CEO.

Mr Goodyear was appointed a member of the Temasek board on Feb 1 and CEO-designate on March 1.

'Four months into the leadership transition, the Temasek Board and Mr Goodyear have concluded and accepted that there are differences regarding certain strategic issues that could not be resolved,' said the Temasek statement.

'In light of the differences, both parties decided that it is in their mutual interests to terminate the leadership transition process and hence the executive relationship with effect from Aug15.'

Mr Goodyear will also step down from the Temasek Board on the same date.

Mr Dhanabalan, Chairman of Temasek Holdings, said: 'It is with much regret that both Chip and the Board have accepted that it is best not to proceed with the leadership transition. We wish Chip all the best in his future endeavours, and are happy that Ho Ching has agreed to continue as Executive Director and CEO.'

Added Mr Goodyear: 'I'm sorry that we are unable to continue with the leadership transition. Temasek has a fantastic platform and I wish the Board, Ho Ching and the team all the best.'

Ms Ho Ching, commenting, said: 'In the short time with us, Chip has started a number of initiatives which I believe will help strengthen the Temasek platform. I am sorry he is unable to continue with the leadership transition, and hope to complete the initiatives that he has started.'

Mr Dhana,

severl years ago:I could not do without Madam Ho,PM Lee

last year:Madam Ho has decided to leave,this has nothing to do with the loss of $60 billions,hor.

Later:we finally hear hunt the whole world and found the best CEO<he would definitely bring us more good years.

Now,Mr Dhanabalan, Chairman of Temasek Holdings, said: 'It is with much regret that both Chip and the Board have accepted that it is best not to proceed with the leadership transition. We wish Chip all the best in his future endeavours, and are happy that Ho Ching has agreed to continue as Executive Director and CEO.'


I ask,is his excellency a real human being.

 

[Tiu Kwang Yew]

Renci saga scared the hell out of many people.

somemore time to tidy up......

 

[Goh Meng Seng]

I am only interested to know whether there is any pay out to Goodyear to quit.

According to most employment contract, there will be penalty to early dismissal. How much is the pay out?

Goh Meng Seng

 

[FuckSamLeong]

Re: Good News!! Local remain as Temasek CEO, Angmo FT kana kick out! 3 Cheers for PAP

SINGAPORE state investment arm Temasek Holdings announced on Tuesday it was rescinding the appointment of prominent US businessman Charles 'Chip' Goodyear as its new chief executive due to irreconcilable differences over strategy.

In a statement, Temasek said it had reached an 'agreement' with Mr Goodyear 'not to proceed with his CEO appointment' which was scheduled to take formal effect on Oct 1 when Ms Ho Ching steps down.

The statement said Ms Ho Ching has agreed to continue as Executive Director and CEO.

Mr Goodyear was appointed a member of the Temasek board on Feb 1 and CEO-designate on March 1.

'Four months into the leadership transition, the Temasek Board and Mr Goodyear have concluded and accepted that there are differences regarding certain strategic issues that could not be resolved,' said the Temasek statement.

'In light of the differences, both parties decided that it is in their mutual interests to terminate the leadership transition process and hence the executive relationship with effect from Aug15.'

Mr Goodyear will also step down from the Temasek Board on the same date.

Mr Dhanabalan, Chairman of Temasek Holdings, said: 'It is with much regret that both Chip and the Board have accepted that it is best not to proceed with the leadership transition. We wish Chip all the best in his future endeavours, and are happy that Ho Ching has agreed to continue as Executive Director and CEO.'

Added Mr Goodyear: 'I'm sorry that we are unable to continue with the leadership transition. Temasek has a fantastic platform and I wish the Board, Ho Ching and the team all the best.'

Ms Ho Ching, commenting, said: 'In the short time with us, Chip has started a number of initiatives which I believe will help strengthen the Temasek platform. I am sorry he is unable to continue with the leadership transition, and hope to complete the initiatives that he has started.'

This is better! Just copy and paste instead of trying to do a dAWN yANG!.....lol...lol

 

[Watchman]

Re: Good News!! Local remain as Temasek CEO, Angmo FT kana kick out! 3 Cheers for PAP

Why 3 cheers since PAP and Temasek orgestrated the whole fiasco

 

[scroobal]

The fact that they did not mention the payout terms gives an idea that it must be substantial, probably the full contractual amount with confidentiality built in.

I am more keen on "differences in strategy". He is taking over Temasek when equities and investments are typically undervalued and they have only one way to go in the medium and long term. Even with a conservative approach, he should do well just with organic growth.

The board and the owners (the State) will set the general nature of the endeavour, so setting a strategy is not exactly his baby but he would have to add colour and form. Typically, when you hire a new CEO, you give him leeway to shape strategy.

It has to be something more fundamental than just strategy - here are some possibilities
- something from his past has popped up but earlier than DBS ex-CEO Pailert who had a falsified his qualifications
- not prepared to bury or hide criminal or unethical activities of the past
- not prepared to accept reporting structure where one "favoured" staff reports directly to the board
- personality clash
- Ho Ching changed her mind
- any others?

I am only interested to know whether there is any pay out to Goodyear to quit.

According to most employment contract, there will be penalty to early dismissal. How much is the pay out?

Goh Meng Seng

 

[halsey02]

Re: Good News!! Local remain as Temasek CEO, Angmo FT kana kick out! 3 Cheers for PAP

Why 3 cheers since PAP and Temasek orgestrated the whole fiasco

They tried to change the 'mong kar chng' puppet ( Chinese puppet show) with the English , 'Punch & Judy'; unfortunately Goodyear is not a Hokkien Puppet as in "WOODEN'.

 

[Watchman]

Re: Good News!! Local remain as Temasek CEO, Angmo FT kana kick out! 3 Cheers for PAP

LKY is a fervent believer in eugenics. He is convinced that the problems of this country are not due to the numerous policy failures of the PAP government. Instead he thinks that the biggest problem with Singapore is that most Singaporeans are descended from inferior genetic stock --- the coolies and hard labourers who came to Singapore from Southern China and India, or worse, the Malay natives whom LKY believes to be less evolved than other races. Singaporeans with good genes, ie. Peranakans like himself, are few and far between. While he could still fill his entire Cabinet with Peranakans, there are hardly enough of them to go around.

Being the visionary that he has always been, LKY undertook to improve Singapore's gene pool by implementing policies designed to reduce the population's inferior genetic stock. As you probably know, these policies didn't sit very well with the people and made Singapore a laughing stock of the world. So now LKY is using an alternative approach --- importing a large number of sperm and egg donors from China and Vietnam. You and I may feel that they are loud and uncouth but to LKY, their superior genes might just save Singapore by ensuring that the bottom-of-the-barrel genetic stock like us become extinct in another generation or two.

 

[Brightkid]

I am not a wee bit surprise by the difference in strategic view reason.

Temasek practice buy high, sell low (proven in almost every deal they are into). Goodyear practice buy low, sell high. How on earth can they ever see eye-to-eye in strategic viewpoint as black vs white in thinking?

My un-educated grandma (bless her soul) always told me to buy low, sell high too. Guess she will never be CEO of Temasek even if she is still around today.