Dear readers,
Singtel, Singapore’s largest telco and the owner of sizable stakes in other regional telcos, is about to see a change at the top.
Getting a new CEO on board is a great chance to set a new direction and undo mistakes of the past.
Indeed, Singtel’s report card on innovation has shown mixed results, as our journalist Melissa Goh laid out.
In part one of her series on the telco, she looked at its history of successes and failures in reinventing itself.
In part two, which was released last week, she spoke to several former Singtel executives to find out why many of its ventures have failed.
If you’re interested in corporate innovation, this will be a good read.
Now, all eyes are on the new Singtel CEO, Kuan Moon Yuen, and how he can shake things up – or not.
Being a Singtel veteran since 1993, and therefore partially responsible for the group’s work culture, Yuen may not bring the changes that are necessary to take the firm’s digital ventures up another notch.
What Singtel chairman Lee Theng Kiat said regarding picking Yuen might be telling.
“Our ultimate decision rests on the fact that Moon is a known entity. Moon has been with the company since the very beginning of his career. And he has exhibited an ability to work at different segments of the entire business of the Singtel group in his entire career,” he explained.
Lee also gave the company’s previous CEO a pat on the back, praising her “sterling work” in the past 13 years.
However, given how Singtel’s share price has been performing, some shareholders might disagree with that assessment.
Solving the legal minefield
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