"The private sector, like the Government-Linked Companies (GLCs), must get the best and the brightest personnel to join them, and there are many bumiputras who fit this description," he said.
However, over the years, GLC has removed more bumiputra CEO that cause continuity problem of strategy in Government Link Company (GLC).
First, in June 2004 itself, Kumpulan Guthrie Bhd's former chief executive Tan Sri Abdul Kh
alid Ibrahim has failed to get re-elected to the board of the plantation group, which he has been associated with over the last 23 years.Tan Sri Ibrahim left PNB in 1994 to lead Guthrie after the former granted him an option to buy up to 20% stake in the plantation group for RM3 a share. He is the person who help Kumpulan Gutherie to gain control of large plantation land in Indonesia.
He has taken Permodalan Nasional Bhd (PNB) and Bank Islam Malaysia Bhd, Labuan (BIMB) to court, claiming he had been denied the right to buy the remaining 135 million Guthrie shares.
Market rumours said that Tan Sri Abdul Khalid ousted because he disagree with the the merger plan, not because he is incompetent. Howeve although Golden Hope Plantation Bhd and I&P has merge their plantation and property group respectively. The merger did not involve Kumpulan Gutherie after 2 years the CEO has been ousted.
Second is MAS managing director Datuk Ahmad Fuaad Dahlan. His, resignation, which announced simultaneously with the report of first quarter losses.
Yet, year end issue of The Edge quoted " to blame Fuaad solely for the airline's trouble is terribly unfair. Malaysia Airlines' failure is a result of adultering what was meant to be a private company with social and political agendas. And that is collectively the fault of its owners and manager."
Third , Most controversial one is Proton Holdings Bhd's chief executive officer Tengku Tan Sri Mahaleel Tengku Ariff contract not renew. His departure lead to Proton disposed off MV Agusta at nominal value of only one Euro which Mahaleel acquired at 70 million Euro (RM315 million). His departure cause no continuity of his strategy to revive MV Agusta claim by open letter by Mahathir and Mahaleel.
I do not feel that constant removal of bumiputra CEO at GLC is the right strategy as it cause discontinuity of strategy. Especially the reason of removal is not incompetent. But merely have disagreement with certain people.
I agree with the view point of "letter to Editor" published by The Star dated 10 Jan 2006 that the GLC should have good succession planning practice by multi-national corporations like General Electric.
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