http://www.asiaone.com/Business/News/My+Money/Story/A1Story20090724-156871.html
Go local in hunt for CEO
IT IS puzzling that the Singapore Government, which scores top marks in its political succession planning for the state, should have stumbled so stunningly in managing the same problem with a state investment vehicle like Temasek Holdings.
With the imminent departure of chief executive officer-in-waiting Charles Goodyear ('Goodyear to leave Temasek', Wednesday) after less than six months in that position, a casual observer might succumb to the notion that Temasek Holdings has been somewhat adrift during the past 18 months.
While on the surface the differences over the 'strategic direction' between Mr Goodyear and the host organisation appears as good an excuse as any for a corporate departure, at bottom it remains the duty of the Government to find the root causes of the malaise afflicting Temasek.
I also question the wisdom of employing an expatriate to helm an organisation as complex and wide- ranging as Temasek Holdings, which practically owns half of Singapore.
Parachuting in from the cold, how does one expect Mr Goodyear to navigate a complex conglomerate like Temasek in five short months?
Temasek is not just another commercial organisation in public opinion.
With Ms Ho Ching, the Prime Minister's wife, at the helm, there is an inevitable political dimension to the organisation despite the obvious political integrity of our system and Ms Ho Ching's undeniable talent.
In this respect, Temasek got it right when she stepped down as chief executive officer.
I would argue for a depoliticisation of the office of the CEO of Temasek and a return to local appointees, instead of setting off on another chase for foreign talent.
The latter will come and go, but the generation and prudent management of Singapore's wealth must continue regardless.
Patrick Low
Go local in hunt for CEO
IT IS puzzling that the Singapore Government, which scores top marks in its political succession planning for the state, should have stumbled so stunningly in managing the same problem with a state investment vehicle like Temasek Holdings.
With the imminent departure of chief executive officer-in-waiting Charles Goodyear ('Goodyear to leave Temasek', Wednesday) after less than six months in that position, a casual observer might succumb to the notion that Temasek Holdings has been somewhat adrift during the past 18 months.
While on the surface the differences over the 'strategic direction' between Mr Goodyear and the host organisation appears as good an excuse as any for a corporate departure, at bottom it remains the duty of the Government to find the root causes of the malaise afflicting Temasek.
I also question the wisdom of employing an expatriate to helm an organisation as complex and wide- ranging as Temasek Holdings, which practically owns half of Singapore.
Parachuting in from the cold, how does one expect Mr Goodyear to navigate a complex conglomerate like Temasek in five short months?
Temasek is not just another commercial organisation in public opinion.
With Ms Ho Ching, the Prime Minister's wife, at the helm, there is an inevitable political dimension to the organisation despite the obvious political integrity of our system and Ms Ho Ching's undeniable talent.
In this respect, Temasek got it right when she stepped down as chief executive officer.
I would argue for a depoliticisation of the office of the CEO of Temasek and a return to local appointees, instead of setting off on another chase for foreign talent.
The latter will come and go, but the generation and prudent management of Singapore's wealth must continue regardless.
Patrick Low
