Tuesday, July 21, 2009

Breaking News : Ho Ching to remain as Temasek CEO!!!!

"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. "
- CNA [Link].

27 comments:

Anonymous said...

Maybe he wants out because he was not prepared to be CEO in name only...wish there are more Singaporeans like him

Anonymous said...

I'm glad the best man is staying on for the job

Alfred said...

to anon 19:20,

haha! thats a good one.
she's gonna suck us dry.

Anonymous said...

Mr Goodyear who voiced regret at being unable to continue with the leadership transition described Temasek as having "a fantastic platform". Elaborating on the point, Ms Ho Ching said she hopes to complete the initiatives that started by Mr Goodyear.

"In the short time with us, Chip has started a number of initiatives which I believe will help strengthen the Temasek platform. I am sorry he is unable to continue with the leadership transition," she said.


So any future bad investments will be Goodyear's fault

Anonymous said...

who in the world is this chipyear guy?

He became head of BHP Billiton out of nowhere. That sounds very strange.

Of course if you're judgemental like Parka, you may ignore this post.

Anonymous said...

Thank God the post stayed with the best man...else they'll probably have to create new "Mentor CEO" post. AG wouldn't be happy with wastage of tax-payers' monies

Anonymous said...

This is intriguing.

Wonder what were those strategic differences that warrant this outcome.

Why were these unforeseen when he was appointed?

I mean, for an appointment of such nature, a person would have considered very thoroughly before accepting it.

Or maybe not applicable in the world of high finance and investments.

Nobody could have foreseen or judge rightly anything. Hence billions lost are of course not unusual.

Most important is politically nothing is affected.

follow the flow said...

I think these r all planned. First, huge loss reported. Then mrs lee stepped down. Now when the news is no longer hot, the show ends. How can the national treasure be managed by a non-lee, not to mention an angmor! No chance! Only the royal bloodline is fit for this position. Long live the king.

Anonymous said...

No wonder CPF Life will hold our money for life without a fixed monthly payout.

Lots of room manoeuvre for buffer if Temasek loses more money.

Anonymous said...

You all notice something?

Those Angmos that were recently appointed end up no good.

Like DBS CEO Richard Stanley died after a few months in office.

Now Chip Goodyear don't want the Temasek CEO job even before formally in the seat.

And there is this new Angmo CEO to take over SGX this Dec. Will he end up also no good?

Anonymous said...

You all notice something?

Those Angmos that were recently appointed end up no good.

Like DBS CEO Richard Stanley died after a few months in office.

Now Chip Goodyear don't want the Temasek CEO job even before formally in the seat.

And there is this new Angmo CEO to take over SGX this Dec. Will he end up also no good?

Kelvin Tan said...

He realized he will need 666 man years to find out the truth about Temasek account so he decided to get out.

Lim Leng Hiong said...

Hi Lucky,

This is not directly related to your post, but Malcolm Gladwell just wrote an interesting article in the New Yorker about the psychology of overconfidence and illusion of control in Wall Street.

http://www.newyorker.com/reporting/2009/07/27/090727fa_fact_gladwell

I thought you might like it because there is a discussion about how overconfidence can increase the probability of winning in some situations, which is a similar idea to Soros' theory of reflexivity.

ahsoo said...

How much do we have to pay to Goodyear for early termination?

Surely the amount will allow him to enjoy many good years?

DanielXX said...

Why would they need Chip Goodyear now that the coast is clear and the credit is there for the taking again? (it's a bull market again!)

Anonymous said...

The report said: "... the Board and Mr Goodyear concluded and accepted that there were differences regarding certain strategic issues that could not be resolved."

This does'nt look good. There must be problems in Temasek so serious that the new CEO decided to quit so soon.

Ho Ching probably thought she could just walk away from a mess she created. Not so simple it now looks.

Anonymous said...

why the nightmare not over yet? why?

Anonymous said...

voluntary early ord

Anonymous said...

Goodyear got a free golden parachute from Singapore. Smart of Goodyear.

And is Temasek flip-flop a surprise?
Mr Lee Kuan Yew said that it's a 30 years investments with the rotten Wall St banks. But in the end, Mr Lee got out fairly quickly while stocks are climbing.
Smart move, Lee Kuan Yew! Heil PAP!

Anonymous said...

One reason a prospective CEO quit early is that he discovers major issues that were unknown to him when he agreed to the job. This is usually not a good for the corporation. No one takes on a CEO role at a major corporation without doing due diligence. He would not have agreed to take on the job had he known the facts earlier.

Anonymous said...

this piece of news is very fishy. It is going to hit value of S$.

In fact, it could be the start of the big collapse.

aiyah said...

And lose more money???!!!

Anonymous said...

From Tumasick's website:

The knowledge, skills and experiences that diverse people bring to Temasek help to open our minds and promote robust conversations within a collegial workplace. Such exchanges can only further enhance and deepen the Temasek experience.

Lip service huh?

Anonymous said...

In police parlance, a Tua Pek Kong is someone paid very well to take the heat for a criminal i.e. go to jail on the criminal's behalf.

I think Charles Goodyear is our political equivalent of a Tua Pek Kong.

Anonymous said...

No more Goodyear, no more good years?

Anonymous said...

First day of his transition, he open up the books and found out its full of worms.

Anonymous said...

What you say now? Lim Hwee Hua?