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Thread: SMRT = She Must Resign Today

  1. #1
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    Default SMRT = She Must Resign Today

    and she has...


    http://sg.news.yahoo.com/smrt-ceo-sa...a-resigns.html


    SMRT CEO Saw Phaik Hwa resigns


    Train operator SMRTís chief executive officer Saw Phaik Hwa announced her resignation from the corporation's board of directors on Friday afternoon.

    She will, however, remain with the transport group to assist in investigations into the twin disruptions to train operations in December, as well as with its transition to new leadership, according to a statement released by SMRT.
    In an filing with the Singapore Exchange, the 57-year-old's resignation is dated effective Friday, with the reason cited being "to pursue personal interests".

    SMRT said that its board of directors has accepted Saw's offer, and that one of its members, Tan Ek Kia, will assume interim responsibilities for SMRT's management, with particular focus on rail operations, as the board searches for a new CEO.

    "The Board recognises the importance of this transition period, and this is why Tan Ek Kia will provide executive leadership while a search is underway for Phaik Hwa's successor," said SMRT chairman Koh Yong Guan.

    Tan, who was also announced as interim CEO, said he would work quickly to ensure that SMRT's leadership team has the support it needs to ensure the delivery of reliable public transport services for commuters.

    "The staff of SMRT are aware of public expectations that we deliver on our commitment to learn lessons from December's incidents," said Tan, adding that he plans to place particular emphasis on rail as "the cornerstone of our public transport system".


    Commenting on her resignation, Saw acknowledged the time was ripe for leadership renewal.

    "I have had the privilege of leading a group of very committed and loyal staff over the last nine years. I feel it is now time for SMRT to bring in new leadership and take the organisation to the next level," she said, adding that her announcement resulted from a discussion she started with Koh in early December last year.

    "I also feel it is important for me to stay on and support the relevant inquiries, and the transition to the new leadership," she added, saying that she will assist Tan with SMRT's transition to its new CEO.

    Saw's resignation comes after her previous decision to stay on as CEO despite calls for her resignation, saying she took responsibility for the incidents that happened in December and pledged to set things right.

    Saw held her post of president and CEO of the company since 3 December 2002, according to the filing. She holds, as of Friday, in excess of 1 million ordinary shares in SMRT Corporation Limited, which amount to S$1.9 million based on its closing share price on Friday. She also holds some 14 directorships with its subsidiary companies.

  2. #2
    Junior

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    She's fired. Clear case.
    Now with DBS 2 major cases, will any head roll ?

  3. #3
    Bricks & Mortar

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    Saw Must Resign Today!

  4. #4
    Bricks & Mortar

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    Check this out....

    SMRT song , creative and brave..

    http://www.youtube.com/watch?v=N_cCWD0xX2w

  5. #5
    Junior

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    what about those under her umbrella?

  6. #6
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    Quote Originally Posted by rattydrama
    what about those under her umbrella?
    They will be pressured and in the next couple of days, will also auto resign...

  7. #7
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    She said she'll pursue personal interest...

  8. #8
    Newbie

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    CEO SMRT honoured her word. She stayed on because she wanted to solve the problem. Looks like she found out that she was the problem

  9. #9
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    Who would still stay on after all the calls for her to step down?

  10. #10
    Junior

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    Default Good Move

    Guess she will get her full year fixed bonus. But it is still a good move.
    The timing is perfect to cool down the ministers pay RAISE. (yes, the new formula of pegging to 500 ultra rich will soon allow them to earn in the range of 10M).
    The CEO in my company is based in New York. He is earning 10M yearly. But he has to resign when the company is only making 2% profit (short of the board target of 5%).
    The next step is for the hiring manager of SMRT CEO to resign. Maybe the perfect timing will be just before GE 2016. Otherwise her boss might be in trouble.

    I have no issue for people getting high pay, but they need to perform to ensure every cent is worth it.

    Thanks,
    Richard

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