How far do a CEO's powers reach?
Tussle between CEO and board of ecoWise Holdings put focus on various parties' rights and responsibilities
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THE recent kerfuffle involving the leadership at Catalist company ecoWise Holdings has not been lacking in high drama.
In the past few weeks, founder, executive chairman and CEO Lee Thiam Seng has changed the locks to its offices, hired an IT firm without the board or sponsor's approval to help him change the passwords on the company's servers, and suspended certain members of senior management - all in a bid to safeguard the company's assets.
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