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NKF sacks CEO, says personal indiscretion did not affect financial management
THE board of National Kidney Foundation (NKF) has terminated its chief executive officer Edmund Kwok, while maintaining that its management of finances has not been affected.
Mr Kwok's employment was terminated with effect from Monday, the board said in a release on Wednesday.The 58-year-old took over as CEO in November 2013.
In the meantime, a three-member executive committee, appointed by the board, will assume all duties and responsibilities of the CEO until mid-December. It will be chaired by chairman Koh Poh Tiong, and supported by board members Bennett Neo and Johnny Heng. Thereafter, former CEO Eunice Tay, 67, will take over until a new CEO is found.
A search for a new CEO will start soon, said the board.
It wrote: "The board of NKF would like to assure all stakeholders, including patients, donors, supporters and employees, that Mr Kwok's personal indiscretion has nothing to do with the stewardship of our finances.
"Our operations are not affected by this matter and our services to patients and beneficiaries continue as per normal."
NKF is the main dialysis provider here, and nearly all of its 4,000 or so patients have high blood pressure, while three-quarters have diabetes.
For the financial year ended June 30, 2015, it reported S$292 million in reserves, and doled out S$28.9 million as subsidies for 3,566 needy patients.