Temasek Holdings and supposedly incoming CEO, Charles Goodyear, have mutually agreed not to proceed with the CEO appointment that was to have taken effect on 1 October 2009. Mr Goodyear is to take the reins as CEO from Ho Ching but he now decided not to proceed due to differences in strategy.
I see this as a very big U-turn by Temasek. Is Temasek losing its plot? I personally do not have confidence in Ho Ching after she lost billions of dollars since she took over as CEO. Her track record before joining Temasek and in Temasek was very bad. Educated with a Engineering background, she joined Temasek Holdings as its CEO and that really puzzles me.
I wonder what made Goodyear changes his mind. Is it because of the "mess" Temasek is in now? Is it because of the transparent but not so transparent practice by a sovereign wealth fund? Goodyear departure means no more good years ahead. Will we see more losses again even in good times like before?
Temasek and Charles Goodyear agree not to proceed with CEO appointment [via]
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