There’s been much public disquiet surrounding the sudden promotion to oblivion of NTUC INCOME’s outgoing CEO, Tan Sueh Chieh. He is leaving Income end of the month to take up the newly created Group CEO of NTUC Enterprises; largely a ceremonial position, according to people in the know, reporting to Mr Lim Boon Heng. Bear in mind that this is the CEO of the Year who scored many accolades for Income.
His departure leaves many unanswered questions with regards to Income and NTUC.
1. Has this got to do with the court proceedings regarding the Financial Consultants who were purportedly coerced to sign a new employment contract relegating their employee status to that of agent (self employed) with benefits drastically reduced? NTUC could not bring him to the negotiation table to resolve the dispute. The two SIEU officials involved have already stepped down or “retired”.
2. Questions as to why Income needed to raise $600 mil in 2012 through a bond issue with high coupon rate was also largely glossed over with no concrete explanation from Tan Sueh Chieh.
Would Mr Lim Swee Say, General-Secretary of NTUC, care to comment?
Concerned Singaporean