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.
International Women's Day 2014: The shocking statistics that show why it is still so important
Singapore sting: Sky-high prices are pushing locals to the edge of affordability
International Women’s Day: 'When a man gives his opinion, he's a man. When a woman gives her opinion, she's a bitch' - feminist quotes from female icons to inspire you
International Women's Day 2014: Cherie Blair - ‘Today is a chance to see how far we still have to go’
Dead woman's body found sitting in a car after six years after direct debits ran $54,000 bank account dry
Britain's top vet sparks controversy with call for ban on slashing animals' throats in 'ritual' slaughters for halal and kosher meat products
Ukraine crisis: Russia dismisses '3am ultimatum' as 'total nonsense'
If you're horrified by a flame-roasted dog, you should be shocked at a hog roast
Poor 'live like animals' says Boris's privately educated sister after going on 'poverty safari'
White people become less racist just by moving to more diverse areas, study finds
Exclusive: Impact of immigrants on British workers ‘negligible’
- 1 International Women's Day 2014: The shocking statistics that show why it is still so important
- 2 Orgasm machine to deliver climax at the push of a button
- 3 Singapore sting: Sky-high prices are pushing locals to the edge of affordability
- 4 Liam Neeson turned down James Bond role because late wife Natasha Richardson said she wouldn't marry him if he took it
- 5 Dead woman's body found sitting in a car after six years after direct debits ran $54,000 bank account dry
iJobs Money & Business
£12000 per annum: Inspiring Interns: The company works with Tier 1 FTSE 100 Ba...
£32000 - £36000 per annum + generous benefits: Pro-Recruitment Group: * TAX * ...
£37000 - £40000 per annum + £20000 benefits package: Pro-Recruitment Group: **...
£30000 - £35000 per annum + generous benefits: Pro-Recruitment Group: Mixed Ta...