Simon English: Culture clash over a boardroom approach
Friday 05 October 2012
Outlook Is the row between Standard Chartered and its largest shareholder, Temasek, a lost-in-translation deal? Probably.
Temasek wants a different board structure, more like the one they favour in its home town, Singapore, where the chief executive reports to a supposed awkward squad of outsiders that keep him on his toes.
Over here, we prefer a more gentlemanly approach where the board is made up of people the chief executive bullied at school (OK, I exaggerate).
Perhaps this is just a clash of cultures. Or perhaps Temasek has noticed that a previously trouble-free bank suddenly got embroiled in fairly gigantic money-laundering allegations and is wondering what on earth the board of directors were doing, concluding that the answer is "nothing" and seriously thinking of selling its 18 per cent holding.
In other times, Temasek would have no shortage of buyers. But just now, bank stock, especially of that magnitude, is not so tempting.
Perhaps they should meet on neutral ground and agree to get over it.
- 1 Half of young women unable to ‘locate vagina’ and 65% find it difficult to say the word
- 3 Saudis risk new Muslim division with proposal to move Mohamed’s tomb
- 4 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 5 Mexican woman becomes world’s 'oldest person' at 127
Perez Hilton apologises for publishing Jennifer Lawrence naked 4Chan photos
Jennifer Lawrence 'nude photo hacker' claims there are hundreds more celebrity images to come
Victoria Justice on naked photo leak: 'Let me nip this in the bud right now – pun intended'
Ariana Grande nude photos leak: Pictures are completely fake, say representatives
Saudis risk new Muslim division with proposal to move Mohamed’s tomb
Rotherham child sex abuse scandal: Labour Home Office to be probed over what Tony Blair's government knew - and when
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Ashya King: Parents of five-year-old boy refused permission to visit him in hospital and denied bail at Spanish court
With Douglas Carswell joining Ukip, my party has taken another giant step forward
When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
Ashya King: 'Cruel NHS has not given us the treatment we need', says father of five-year-old with brain tumour who fled to Spain
iJobs Money & Business
£35000 - £38000 per annum + benefits: Ashdown Group: Executive Assistant/Event...
£30000 - £32000 per annum: Ashdown Group: HR Generalist (standalone) - Tunbrid...
£600 - £800 per day: Harrington Starr: Derivatives Risk Commodities Business A...
£600 - £800 per day: Harrington Starr: Power & Gas Business Analyst/Subject Ma...