Why did goodyear leave?

[makapaaa]

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSSIN15759920090722


WHY DID GOODYEAR LEAVE?

Goodyear's decision to leave likely was made after a board meeting last week when he put in a list of proposals and changes he wanted to make after taking the helm on Oct. 1, sources with knowledge of the meeting told Reuters.

But the proposals ran into trouble with the board, the sources said. It must have become clear to Goodyear then that running a state-linked firm is a much bigger challenge than running a privately-held company.

Goodyear was expected to diversify the portfolio, currently loaded with banks, by moving more into commodities and energy. He was also expected to improve risk management after Temasek lost over $4 billion in Bank of America (BAC.N: Quote, Profile, Research, Stock Buzz) and Barclays (BARC.L: Quote, Profile, Research, Stock Buzz) due to early exits. He was widely expected to make management changes.

"With Goodyear widely expected to implement significant changes to Temasek's investment strategy, the failure in reaching agreement between him and the board suggests that the fund is not ready for a big shift in direction," said Sherman Chan, an economist at Moody's.

Temasek declined to comment for this story and Goodyear was not available to comment.

 

[makapaaa]

<TABLE class=msgtablealt cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"></TD><TD><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR class=msghead><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>Bright90 <NOBR></NOBR></TD><TD class=msgDate width="30%" noWrap align=right>Jul-22 6:28 pm </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>teh_si <NOBR></NOBR></TD><TD class=msgNum noWrap align=right>(10 of 16) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"></TD><TD class=wintiny noWrap align=right>17403.10 in reply to 17403.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>Let's look at the board
1. Mr S Dhanabalan, Chairman-DBS Banker,but private investment after leaving the PAP unimpressive.
2. Mr Kwa Chong Seng, Deputy Chairman-fr Lee clan
3. Mr Lim Siong Guan, Deputy Chairman-whole life civil servant,started as AO,rose to PS
4. Mr Sim Kee Boon-Ex-chairman of Keppel group,OK but not that fantastic
5. Mr Fock Siew Wah-Merchant banker-whole life executive
6. Mr Koh Boon Hwee-Ex HP boss,I think the only one with a reasonable record as own biz manager
7. Mr Kua Hong Pak-came fr rich family,whole life running the family biz,noe SBS
8. Mr Simon Israel-pl see below
9. Mr Goh Yew Lin-pl see below
10. Ms Ho Ching, CEO-First calss engineer,started work at SISIR,then DSO,then CEO of $200 billion invetsment company,record???




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[liketogossip]

WHY DID GOODYEAR LEAVE?

Maybe he realize he couldnt bring them a "good year"

 

[halsey02]

Maybe he realize he couldnt bring them a "good year"

When he came, he was the GOOD YEAR, after reading his proposals, it wasn't going to be very GOOD YEARS for the borad. Now, Good year is leaving for better YEAR..

 

[ashjaw]

Because he can sense that a BAD YEAR is coming?

Maybe he realize he couldnt bring them a "good year"

 

[Ah Guan]

I swear this has got something to do with the solar eclipse - a very bad omen

 

[johnny333]

I swear this has got something to do with the solar eclipse - a very bad omen

Mandate from heaven ending bad or just
a couple of deaths in THE familee

 

[Ah Guan]

Mandate from heaven ending bad or just
a couple of deaths in THE familee

The sun was swallowed by the celestial dog

I only fear it is a bad omen for sinkaporeans' money :(

 

[Watchman]

Goodyear left because he is not getting Ho Ching's pay packet but have to be a fall guy for it !

 

[Eurekas]

No more good years for the evil Lee familee.

 

[eeoror88]

The reason is because his secretary has bad breadth.:o

 

[MarrickG]

They wanted him to do things their way which he cannot agree (if their way had worked, Temasek won't be in this shit isn't it?). So left loh.

 

[batman1]

1. Mr S Dhanabalan, Chairman-DBS Banker,but private investment after leaving the PAP unimpressive.
2. Mr Kwa Chong Seng, Deputy Chairman-fr Lee clan
3. Mr Lim Siong Guan, Deputy Chairman-whole life civil servant,started as AO,rose to PS
4. Mr Sim Kee Boon-Ex-chairman of Keppel group,OK but not that fantastic
5. Mr Fock Siew Wah-Merchant banker-whole life executive
6. Mr Koh Boon Hwee-Ex HP boss,I think the only one with a reasonable record as own biz manager
7. Mr Kua Hong Pak-came fr rich family,whole life running the family biz,noe SBS
8. Mr Simon Israel-pl see below
9. Mr Goh Yew Lin-pl see below
10. Ms Ho Ching, CEO-First calss engineer,started work at SISIR,then DSO,then CEO of $200 billion invetsment company,record???
----------------------------------------------------------------

No.10 Greatest achievement - Got hitched to Pink PaNTNER.mATCH-MADE BY pHILLIP yEO.........nO.1 ACHIEVEMENT.

 

[Papsmearer]

Temasek is run like an old style chinese company. They don't know how to hire professionals, and than let them run the company and stay out of their way. Arab sovereign funds at least know how to do this. This whole affair really stinks. WHen they hired Goodyear, they must have ask him for his vision and strategy for Temasek. he must have told them they should switch to commoditiies and they must have agreed. Now, a mere 10 months later, they have changed their minds? Unbelievable.

The real answer lies in the fact that the directors were getting side compensation from all these prior deals. deals like Shincorp, BA, Indosat, Thai and HK banks etc. make no sense to most people in the business. My only conclusion is that palms were greased by the sellers in those cases. Thaksin for example is one of the dirtiest businessman in SE Asia. For him to convince Temasek BOD and CEO to buy his conglomerate, and circumvent the Thai foreign ownership laws thru proxy individuals and shell companies must have required hefty bribes to these temasek yobos.

Of course, when Goodyear appeared on the scene, this source of income might have dried up when he refused to play ball. So, I guess, it was a quick exit for him. The PAP now is officially truly incompetent.

 

[Hans168]

<TABLE class=msgtablealt cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"></TD><TD><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR class=msghead><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>Bright90 <NOBR></NOBR></TD><TD class=msgDate width="30%" noWrap align=right>Jul-22 6:28 pm </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>teh_si <NOBR></NOBR></TD><TD class=msgNum noWrap align=right>(10 of 16) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"></TD><TD class=wintiny noWrap align=right>17403.10 in reply to 17403.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>Let's look at the board
1. Mr S Dhanabalan, Chairman-DBS Banker,but private investment after leaving the PAP unimpressive.
2. Mr Kwa Chong Seng, Deputy Chairman-fr Lee clan
3. Mr Lim Siong Guan, Deputy Chairman-whole life civil servant,started as AO,rose to PS
4. Mr Sim Kee Boon-Ex-chairman of Keppel group,OK but not that fantastic
5. Mr Fock Siew Wah-Merchant banker-whole life executive
6. Mr Koh Boon Hwee-Ex HP boss,I think the only one with a reasonable record as own biz manager
7. Mr Kua Hong Pak-came fr rich family,whole life running the family biz,noe SBS
8. Mr Simon Israel-pl see below
9. Mr Goh Yew Lin-pl see below
10. Ms Ho Ching, CEO-First calss engineer,started work at SISIR,then DSO,then CEO of $200 billion invetsment company,record???




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6. Koh Boon Hwee, classmate of LHL graduated in engineering from Imperial College & got MBA from Harvard...

7. Kua Hong Pak was MD of Sheng Li which became ST Technologies... lost a struggle with P Yeo and went over to S Times... also lost to Alan ... & gone over to Comfort where he really felt comfortable (at last...?) as Gr CEO

10> Ho Ching was engineer at MINDEF, then CIS as Deputry Director of Engineering..... then SISIR etc

 

[johnny333]

Temasek is run like an old style chinese company. They don't know how to hire professionals, and than let them run the company and stay out of their way.

Ha Ha, no surprised there, it was run like a familee business. I'm surprised that with all the Lees making "extra" money, they still want their MP pay & retirement packages.

Of course, they didn't want to share a good thing & so kept it all in a family affair. Why share with outsiders when you can keep all the $$$ in the familee

Thaksin for example is one of the dirtiest businessman in SE Asia. For him to convince Temasek BOD and CEO to buy his conglomerate, and circumvent the Thai foreign ownership laws thru proxy individuals and shell companies must have required hefty bribes to these temasek yobos.

Maybe it was Temasek who approached Thaksin & convinced him to do the deal

After all Thankin was successful until he made the deal with Temasek & we know mdm Ho Chings poor track record

 

[jw5]

Don't quite understand.
Would it not be more appropriate to issue a statement stating that they would be looking for a new CEO, but that Ms Ho would be happy to stay on until the new CEO is hired?

 

[hairylee]

More Good Years

 

[bhoven]

6. Koh Boon Hwee, classmate of LHL graduated in engineering from Imperial College & got MBA from Harvard...

7. Kua Hong Pak was MD of Sheng Li which became ST Technologies... lost a struggle with P Yeo and went over to S Times... also lost to Alan ... & gone over to Comfort where he really felt comfortable (at last...?) as Gr CEO

10> Ho Ching was engineer at MINDEF, then CIS as Deputry Director of Engineering..... then SISIR etc

Correction to No 6 - KBH was from SJI, LHL from CH/NJC. They were at Harvard at the same time. MBA for KBH, MPA for LHL.
No & - KHP graduated with B. Acct from Uof S, started working life at DBS in 1969, then got seconded to Sheng Li where after showdown with PY, joined Times Pub where he remianed for several years. He was never in the running for the CEO job at SPH. TYM ( ex SID, later PS Comms ) was LKS's choice. This was way before AC. KHP left Times and joined Comfort after the then CEO ( an ex MP ) was ushered out because of his childish attempt to browbeat the motoring correspondent of ST who reported on his million plus compensation package.

What is unusual about the composition of the BOD of Temasek is that other than GYL and KBH, the rest have no background in fund management/portfolio investment. Even GYL's is not pure fund management - he was a stock broker.