SMRT CEO's surprise resignation triggered many responses throughout Singapore. Some said that its about time while some says that she should not step down because the top should not resign for every single fault. My problem is that should we consider the latest 2 breakdowns as
any fault?
First, let's have a look at the definition of CEO. According to Investopedia, CEO is the highest ranking executive in a company whose main responsibilities
include
developing and implementing high-level strategies, making major
corporate decisions,
managing the overall operations and resources of a
company, and acting as the main point of communication between the board
of directors and the corporate operations.
So were the recent breakdowns normal faults?
40m stretch of power rail was damaged at the North-South line. Do not forget the frequent breakdowns of the SMRT managed LRT operations at Choa Chu Kang. According to the Wikipedia source
here, the LRT was down more than 30 times since 2008, and the latest breakdown happened in June 2011. I do not even want to mention Circle Line, which was brand new. Looks to me like a maintenance problem. What happened to managing overall operations? Result of change in high level strategy?
Turning off the power of the train, leading to breathing problems for some passengers, causing one of them to break the windows to allow fresh air to come in. What happened to the disaster planning? Problem with operations again?
And why did the CEO resign effective immediately just before the minister is due to speak in Parliament?
Anyway, what's done is done. I hope the next CEO will bring SMRT back to its roots.
2 comments:
As long as it is a public listed company, the bottom line takes priority.
Profit maximisation will always the objective.
Why is it the top management is paid performance bonuses PLUS stock options?
I am not sanguine the next CEO is going to do any better when public service is concerned.
Collected bonus and dividends. Why stay back to help in investigation? If she can live in denial and lied for so many years to request for fare hike, she can easily cover her tail now and leave so as to prevent being questioned and her name further washed down the drain during the parliamentary sitting. She is a cunning cunt.
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