Breaking News:Ho Ching to remain Temasek CEO
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Channel NewsAsia
Posted: 21 July 2009 1756 hrs
Singapore: Temasek Holdings and Mr Charles (“Chip”) W. Goodyear have mutually agree not to proceed with the CEO appointment that was to have taken effect on 1 October 2009.
Mr Goodyear was appointed a Member of the Board of Directors of Temasek Holdings (Private) Limited on 1 February and CEO-Designate on 1 March to to succeed Ms Ho Ching as CEO.
In a news release issued Tuesday evening, Temasek said that four months into the leadership transition, the Board and Mr Goodyear concluded and accepted that there are differences regarding certain strategic issues that could not be resolved.
In light of the differences, both parties decided that it is in their mutual interests to terminate the leadership transition process and hence the executive relationship with effect from 15 August 2009.
Mr Goodyear will also step down from the Temasek Board effective the same date. -
The internet will have a field day with this.
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No more GoodYear?
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Hahahah, so this is only wayang wayang about ho jinx leaving Temasick.
Hahahah, people, expect more losses, eee wooo!!!
Shall award Ho jinx with best actor actress award in next year's mediacorpse"s award presentation.
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to Singapore... -
Pray no use la. Heaven is on their side. Heaven blessing the evil ones.
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Wow.
we will be expecting Temesek losing another 50billion from years to come.
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Originally posted by duanyuqiao:
Wow.
we will be expecting Temesek losing another 50million from years to come.
Million?
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Originally posted by greengoblin: to Singapore...
This is a farking sick reply bro! Honestly.
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Originally posted by duanyuqiao:
Wow.
we will be expecting Temesek losing another 50million from years to come.
Sorry, we will be expecting Temesek losing another 50million for days to come.
Ya, 7th Lunar month soon. Only SGD50billion to be burnt.
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Originally posted by charlize:
Million?
MY MISTAKE
is billions
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i suspect it is just a show to get in Goodyear to appease the public
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Originally posted by greengoblin: to Singapore...
what a nice way to reply
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If they serious to get a third party to become CEO, they can go search for suitable person and not put ho jinx back again.
All is just drama.
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Stock markets moving up so can take credit for making money again.
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Originally posted by charlize:
Stock markets moving up so can take credit for making money again.
won't be for long. San fen zhong re du! -
Originally posted by charlize:
Stock markets moving up so can take credit for making money again.
Time to quit the stock market?
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Originally posted by Chew Bakar:
Time to quit the stock market?
If stock market does indeed move down again, then it will be like equivalent of the Adam Cheng curse.
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Temasek Says Goodyear Won't Become CEO
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.
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Originally posted by charlize:
If stock market does indeed move down again, then it will be like equivalent of the Adam Cheng curse.
Market indicator?
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The winner leechgime takes it all.
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<...new stragtegic direction considered too risky...> who else can be a greater risk taker than madam ho!
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Originally posted by lotus999:
<...new stragtegic direction considered too risky...> who else can be a greater risk taker than madam ho!
Risk Indicator?
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give him another chance to show that he can do it
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lost so much already, heshe still deserve another chance??????