Bloomberg: Temasek may appoint insider as CEO
Bloomberg reports that Temasek may be considering one of its senior insider figures for CEO appointment. The departure of Chip Goodyear may have sent a signal to external CEO candidates that they would not have the freedom and power to do exert their influence as they would like.
What does this say about Temasek’s commitments to transparency standards? Bloomberg quotes an analyst:
“Hiring external executives has been a trend within SWFs for some time, and it is starting to intensify,” said Marko Maslakovic, senior economist at International Financial Services London and author of the group’s annual report on sovereign wealth funds. “There has been a gradual movement towards more transparency for sovereign funds, and hiring executives who’ve worked in Western institutions may help send the right message.”
Does this mean that Temasek decided against becoming more transparent when it made a decision to let go of Goodyear?