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

Anita Gabriel

Published Wed, May 11, 2016 · 09:50 PM

cordlife

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.

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