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.
Justin Bieber was one of the hardest hit
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Shock poll shows voters believe Ukip is to the left of the Tories
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Ukip candidate jokes about 'shooting peasants' in racist and homophobic rant
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
iJobs Money & Business
Up to £70,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...
Up to £65,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...
£32000 - £35000 per annum + benefits: Ashdown Group: Marketing Services Manage...
£Neg. (DOE) + Excellent Benefits: Guru Careers: A Finance Account Manager with...