Temasek talks up board action after StanChart shake-up
The exits of Standard Chartered's chief executive and Asia CEO were said to be the result of pressure from major shareholders including Singapore sovereign wealth fund Temasek.
Singaporean sovereign fund Temasek underlined the importance of boardroom renewal in a strong statement delivered in response to the radical shake-up at Standard Chartered Bank, which was announced yesterday.
Temasek and Aberdeen Asset Management were reported to be among the emerging market bank's 10 leading shareholders to have been pushing for a boardroom shake-up as they grew impatient with its share performance.
The value of StanChart's stock has plunged since the start of …
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