foreign talents for company boards
it is a truth that nobody wants to know. or at least nobody who is benefitting from all the fat director fees would want to know. heng swee kiat, the mas managing director said this,' these busy directors find that they do not have time to keep up with the workings of the business and to fully digest the information they are confronted with in their board papers.' is this new or news? has rip van winkle just woken up? now, finally mas wants to do something to correct this anomally that has been common knowledge all these years. it is pure nonsense for someone, no matter how talented, to be in full employment, maybe even wearing several hats, to sit in more than 3 boards of directors. everyone has only 24 hours a day to work. no, minus all the rest and sleep time, travelling time, eating time, quality time with families, how much time is left for real work? 10, 12 hours. it is high time that corporate governance be taken seriously and directorship be taken seriously. the party is over. or is it? is the call for foreign talents to boost up the pool of directors necessary? some companies that need that extra exposure may need some foreign talents. but we are not short of qualified people to be directors. we have plenty of them, now jobless or holding lesser jobs, because of age. many have been prematurely retired for their own good as if after 45 or 50 they should be buried and forgotten. we have a very serious unemployment problem at hand for the above 50s. there is no need to import more fictitious foreign talents. look after our own people. make directorship a new career for the senior and qualified professionals. are we so short of ideas as to discard all our experienced people to be cleaners and taxi drivers? limit directorship to a maximum of 3, preferably 1, for full time employees. the rest of the directorships can be made available for qualified and experienced singaporeans. these are the jobs that we should reserve for our own citizens. not fictitious foreign talents. can we be real? can we create value jobs for our citizens?