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I am a Practitioner of 'The 7e Way of Leaders' where a Leader will Envision, Enable (ASK for TOP D), Empower, Execute, Energize, and Evolve grounded on ETHICS!

Saturday, May 27, 2017

Daily Lessons from Life 26 May 2017 - Can armed personnel run businesses?

"SINGAPORE Press Holdings (SPH) will appoint former Neptune Orient Lines (NOL) chief executive Ng Yat Chung as its new CEO, while current CEO Alan Chan and deputy CEO Patrick Daniel will retire, the media and property group announced on Friday.

Mr Chan, 64, is retiring after 15 years at the company to allow for renewal of the company's management and board, said SPH, which owns The Business Times. His exit will be effective on Sept 1, 2017.

Mr Daniel, 63, will continue as a part-time consultant to assist Mr Ng. Current deputy CEO Anthony Tan will remain at his post.

Mr Ng, who is currently an independent director of SPH, will become an executive director from July 1. Independent director Andrew Lim will replace Mr Ng as chairman of the board risk committee."

This defies understanding. The SPH shareholders would be worried, n I m one of them, to hv someone from the outside to helm one of the national media companies. Albeit a monopoly of sort n majority owned by the government investment company, Temasek Holdings.

In case I hv been misunderstood. I m for bringing someone from the outside if nothing but just for a fresh pair of eyes n new perspective. Just that having someone who sold our national shipping company, one where x-ESM/SM/PM Goh once helmed, to a foreigner after a few years as its CEO does not inspire any confidence!! Worst thing is that NOL just turned a profit barely more than one year under the mgt5of the new foreign owner!

This fixation n blind "loyalty" to x-armed forces personnel that they r the best the nation can offer in running TLCs n GLCs n even the country is simple perplexing n incomprehensible!! This is especially when the "trusted" hv failed to deliver on some many life situations! SIA in troubles. SMRT could not fix the breakdown issues. NOL sold to foreigners. All while the CEO n his senior colleagues r drawing fixed pay of hundred of thousands n even million dollar pay!!

How long can this continue? How can this be justified to the tax payers for these highly paid government linked companies' executives.

How demoralizing to the workers of these companies to see incompetent "special favoured" people being given top posts while they get ignored!!??

The CEO is retiring. The Deputy CEO also goes. The Board decided this ex-armed forces guy with less than 2 yrs as independent director r more qualified to be the CEO!!

Board can't be serious right? Or it is better to keep quiet n be on this "prestigious" Board n collect a 6-digit director's fee?

A privileged class?? Parasites??

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