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20-04-2015, 10:31 AM
Successful succession is never an easy task, even within SME. It is a valid concern...
Temasek’s succession in spotlight as Ho takes three-month leave
SINGAPORE (April 20): Temasek Holdings Chief Executive Officer Ho Ching’s three-month sabbatical raises the question that’s been asked repeatedly in the past six years: who will steer Singapore’s investment mothership when she eventually leaves?
Ho, 62, said last week she’s taking time off to attend to “a couple of long-standing things” and catch up on sleep, while assuring the public she’s “well”.
The leave follows two months during which her husband, Singapore Prime Minister Lee Hsien Loong, was operated on for prostate cancer, and his father, Lee Kuan Yew, the nation’s first premier, died at 91.
Temasek, Singapore’s state-owned investment company, is trying to avoid the 2009 debacle when it appointed BHP Billiton head Charles “Chip” Goodyear as CEO designate to replace Ho, said Victoria Barbary, director at the London-based Institutional Investor’s Sovereign Wealth Centre.
Goodyear left within months over differing views on strategy.
“The Chip Goodyear situation is not going to happen again,” Barbary said. “A successor won’t be a Westerner parachuted in. The person might not be in Temasek now. But it will be a person from the wider world of Singapore Inc”
The new CEO should “ideally” be Singaporean, Finance Minister Tharman Shanmugaratnam said in August 2009, adding that Goodyear’s exit was “a dent in the reputation” and “a very visible dent in the fender” of Temasek.
...
http://www.theedgemarkets.com/sg/article...onth-leave
Temasek’s succession in spotlight as Ho takes three-month leave
SINGAPORE (April 20): Temasek Holdings Chief Executive Officer Ho Ching’s three-month sabbatical raises the question that’s been asked repeatedly in the past six years: who will steer Singapore’s investment mothership when she eventually leaves?
Ho, 62, said last week she’s taking time off to attend to “a couple of long-standing things” and catch up on sleep, while assuring the public she’s “well”.
The leave follows two months during which her husband, Singapore Prime Minister Lee Hsien Loong, was operated on for prostate cancer, and his father, Lee Kuan Yew, the nation’s first premier, died at 91.
Temasek, Singapore’s state-owned investment company, is trying to avoid the 2009 debacle when it appointed BHP Billiton head Charles “Chip” Goodyear as CEO designate to replace Ho, said Victoria Barbary, director at the London-based Institutional Investor’s Sovereign Wealth Centre.
Goodyear left within months over differing views on strategy.
“The Chip Goodyear situation is not going to happen again,” Barbary said. “A successor won’t be a Westerner parachuted in. The person might not be in Temasek now. But it will be a person from the wider world of Singapore Inc”
The new CEO should “ideally” be Singaporean, Finance Minister Tharman Shanmugaratnam said in August 2009, adding that Goodyear’s exit was “a dent in the reputation” and “a very visible dent in the fender” of Temasek.
...
http://www.theedgemarkets.com/sg/article...onth-leave
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