GIC, Temasek & MAS 01 (May 08 - Aug 09)

[LenaHuat]

Good for Goodyear. I don't see how he can build up TH with a whole battalion of hanger-ons from the previous regime. This fellow got the carpet pulled off his feet when Mdm Ho announced TH's strategic change juz days after his appointment. What does TH expect of him? Juz be a hanger-on.

As a Singaporean, I feel we are shooting our own feet with members of the Lee dynasty fronting our SWFs.

[kennynah]

hence, for those who have the privilege to vote...

Vote Wisely

[Cheng]

Everything is just a WAYANG! Goodyear tried to change senior management hahaa...

JULY 21, 2009, 7:31 A.M. ET
Temasek Says Goodyear Won't Become CEO

By PATRICIA KOWSMANN, COSTAS PARIS and SE YOUNG LEE

SINGAPORE -- Singapore's Temasek Holdings Pte. Ltd. said Tuesday that American executive Charles "Chip" Goodyear won't take over as chief executive of the state-owned investment firm, reversing plans announced earlier this year.

"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," Temasek said in a statement.

Temasek, one of the world's oldest and most respected sovereign-wealth funds, had announcement the CEO change in February, in a move that was seen as an effort to change gears after big hits to its portfolio. At the time, fund officials rejected the idea that the hiring of Mr. Goodyear was related to recent financial hits, saying it first became interested in attracting Mr. Goodyear in 2007.

Mr. Goodyear, a former BHP Billiton Ltd. CEO and a former associate at Kidder Peabody, assumed the position of CEO-designate at Temasek on March 1, and was expected to succeed current CEO Ho Ching on Oct. 1. He is also leaving the board, Temasek said.

A person familiar with the situation said Mr. Goodyear differed with Temasek on the company's new investment focus, and that his proposals for the firm's new strategic direction were considered too risky by some.

He also planned some changes for the senior management that weren't well received, the person said. Temasek's board must approve appointments for such posts.

Ms. Ho, who is married to Singapore Prime Minister Lee Hsien Loong and is daughter-in-law of the city-state's founder, will continue as CEO and executive director of Temasek, a spokeswoman said.

http://online.wsj.com/article/SB124816971715467759.html

[kennynah]

He also planned some changes for the senior management that weren't well received

birdie duno lastic.....

[winston]

Maybe they did not sort out the the big questions in the first place ..

Example:-

1) Can he sell some of the GLCs eg. Singtel, DBS, Keppel, Capitaland, ST Eng, NOL, SIA, Chartered etc. ?

2) Can he replace the existing senior management and bring in his own team?

If TH wanted to get into Commodities, then they should have just hired the guy as a Consultant in the first place. Why make him the CEO, especially when he cant sell the sacred cows and he cant replace the entire senior management ?

If you ask me, the CEO position should be headed by a Singaporean. The CEO can then hire the consultants if the specialized knowledge is not available in-house. Actually, dont need to look too far for those consultants. We have some very smart people here in the forum

[iam802]

Temasek May Hire Internal Candidate for Goodyear Replacement

http://www.bloomberg.com/apps/news?pid= ... _EkJjXhTFQ

===
Spend so much time searching...still cannot find good fit.

Now, then it hit them...that maybe an internal candidate is suitable as well.

All this talk about succession planning.

[kennynah]

wayang lah..... i am all eyes to see how "亲" this eventual candidate is...

[LenaHuat]

Earlier on, they declared no internal candidate was suitable. After some 6 months later, they had found one

[millionairemind]

Earlier on, they declared no internal candidate was suitable. After some 6 months later, they had found one

Scaly it is by the name Lee.....

[kennynah]

or a Kwa....