Rift over pay, underperforming core business led to Cordlife CEO's departure
Shareholders were told at a dialogue that Cordlife's board had sought to terminate Jeremy Yee's contract and renegotiate a new one
Add BT as a preferred source
Anita Gabriel
Singapore
CORDLIFE Group's board decision not to renew Jeremy Yee's employment contract, which terms included an annual payout of up to 10 per cent of company profits, and its dissatisfaction over the growth pace - or lack thereof - of the firm's core business were key factors that led to his sudden resignation as chief executive in March.
These fresh details, among others, emerged at a highly-spirited and at times, even angsty session, between Cordlife's board led by Dr Ho Choon Hou and some 50 shareholders - some visibly more disgruntled than others - at an over hour-long dialogue session organised by the Securities Investors Association of Singapore (SIAS) to clear the air on Mr Yee's puzzling and abrupt resignation as CEO.
TRENDING NOW
Wealth of Singapore’s 50 richest diverges as OCBC, Sheng Siong boom offsets tech slide
Massive tax bill clouds sale of Singapore land by Malaysian king’s son
Canada’s fight with the US has far bigger stakes than trade
What’s luck got to do with it? Everything, says Malaysian jewellery king Tomei’s chief
