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4/30/2008

Appalled by the state of corporate governance

Theresa Goh was so appalled by the reports on corporate governance at CAO that she wrote to Today with 7 pointed questions. 1. Is it right For CAO not to appoint a CEO after the fiasco 3 years ago? 2. Is it decent for the Chairman to be given an above average remuneration in director's fees, assuming that he is de facto CEO? 3. Is it right for the CEO to appoint independent directors from his network? 4. Is it decent for Wang Kai Yuen to accept more than 14 directorships? 5. Is it right for David Gerald, Chairman of SIAS, to endorse CAO's governance standards, based on seemingly misleading statements given by them... 6. Is it decent for him to say 'There is no law that prevents them from taking up more positions so long as they can discharge their duties and make sure that the shareholders are not disappointed? This is the sad state of affairs of corporate governance.

1 comment:

Anonymous said...

In tiny Sg, the modus operandi is you scratch my back and I'll scratch yours. Everyone is connected.