Home > Breaking News > Singapore > Story
July 29, 2009
Goodyear's exit 'mutual'
By Fiona Chan
Temasek CEO Ho Ching's (left) comments come after the firm last week said it was rescinding the appointment of US businessman Charles 'Chip' Goodyear (right) as her replacement due to differences over strategy. -- ST PHOTO: JOYCE FANG
THE decision by American Charles 'Chip' Goodyear to walk away from the top post at Temasek Holdings was 'both mutual and amicable', said Temasek's chief executive Ho Ching on Wednesday.
In her first public comments on the issue since Mr Goodyear's shock departure earlier this month, Ms Ho said Temasek continues to 'hold Chip in very high regard for his professionalism and his integrity.'
She was responding to a question at the annual IPS Corporate Associates lunch on Wednesday, organised by the Institute of Policy Studies (IPS), at which she was the guest of honour.
Mr Goodyear was to replace Ms Ho as Temasek CEO on Oct 1, but last week, Temasek issued an unexpected statement saying that 'strategic differences' had led Mr Goodyear to change his mind.
Asked on Wednesday what these 'strategic differences' were, Ms Ho replied: 'Let me borrow my chairman's words. He went to a recent function and a gentleman from CNBC also asked a similar question.
'And Mr Dhana's reply was that the media release was crafted very carefully and he has nothing more to add to it,' she said to laughter from the audience of about 100 business leaders and IPS guests.
But she went on to 'add a little bit of qualification' about some rumours that have surfaced on the reasons for Mr Goodyear's departure.
'I think that there has been a lot of speculations,' she said.
'We look at those speculations sometimes with irritation and sometimes with amusement because all of them are very far away from the truth, including those sources who claimed to be familiar with the situation. They were obviously not.'
July 29, 2009
Goodyear's exit 'mutual'
By Fiona Chan
Temasek CEO Ho Ching's (left) comments come after the firm last week said it was rescinding the appointment of US businessman Charles 'Chip' Goodyear (right) as her replacement due to differences over strategy. -- ST PHOTO: JOYCE FANG
THE decision by American Charles 'Chip' Goodyear to walk away from the top post at Temasek Holdings was 'both mutual and amicable', said Temasek's chief executive Ho Ching on Wednesday.
In her first public comments on the issue since Mr Goodyear's shock departure earlier this month, Ms Ho said Temasek continues to 'hold Chip in very high regard for his professionalism and his integrity.'
She was responding to a question at the annual IPS Corporate Associates lunch on Wednesday, organised by the Institute of Policy Studies (IPS), at which she was the guest of honour.
Mr Goodyear was to replace Ms Ho as Temasek CEO on Oct 1, but last week, Temasek issued an unexpected statement saying that 'strategic differences' had led Mr Goodyear to change his mind.
Asked on Wednesday what these 'strategic differences' were, Ms Ho replied: 'Let me borrow my chairman's words. He went to a recent function and a gentleman from CNBC also asked a similar question.
'And Mr Dhana's reply was that the media release was crafted very carefully and he has nothing more to add to it,' she said to laughter from the audience of about 100 business leaders and IPS guests.
But she went on to 'add a little bit of qualification' about some rumours that have surfaced on the reasons for Mr Goodyear's departure.
'I think that there has been a lot of speculations,' she said.
'We look at those speculations sometimes with irritation and sometimes with amusement because all of them are very far away from the truth, including those sources who claimed to be familiar with the situation. They were obviously not.'
