Goodyear leaves Temasek post before he begins
Singapore’s Temasek said Charles 'Chip' Goodyear has decided against becoming chief executive of the state investment firm due to differences over strategy, Reuters reported Tuesday.
Goodyear, former CEO of the Australian mining giant BHP Billiton, is leaving less than six months after accepting the post. Ho Ching, the wife of Singapore’s prime minister and current CEO, will continue as executive director and chief executive, Temasek said in a statement.
Temasek has stakes in Singapore-based terminal operator PSA International, Neptune Orient Lines, parent of liner carrier APL, and Singapore Airlines, as well as a host of major foreign banks.
The announcement came as somewhat of a surprise for the carefully managed outfit, 'with senior managers called into a meeting about half an hour before the news was made public,' the Reuters report said.
Goodyear, who over the last decade helped resurrect BHP by merging it with South African mining company Billiton, was due to take over the post Oct. 1. He was to be charged with trimming the holding company's financial assets, which took a sizeable hit in the financial meltdown in late 2008. Temasek is also said to be eyeing a greater diversity of investments outside of Singapore.
“Four months into the leadership transition, the Temasek Board and Mr. Goodyear have concluded and accepted that there are differences regarding certain strategic issues that could not be resolved,” a statement from the company said.