Mr Goh Lian Tse, Chairman and CEO of Innovalues, has written in to BT Forum yesterday in an attempt to salvage some “face” for the embarassing debacle of appointing a bankrupt to the position of Group CFO.
- He said his company’s whistle blowing policies are working fine despite conceding on the lapses in their hiring procedures. I wonder who blew the whistle?
- Mr Goh said the employee was the country financial controller for a Malaysian plant and he was brought to Singapore with a view to be appointed as the Group CFO. Basically his simple defence here is that the appointment to Group CFO position was not confirmed yet. But is he also implying that it is all right for a bankrupt to be a country financial controller in Malaysia but not good enough to be a Group CFO in Singapore? Please enlighten me.
Mr Goh, please confirm whether the said employee is being considered for the position of Group CFO or not given the 2 contradictory statements I am quoting from your letter to the Forum.
- “He was redeployed to Singapore with a view to being confirmed as group financial controller.”
- “At no time was the said emplyee being considered for the CFO position.”
“Why can’t a bankrupt be a CFO?”
I agree that a person, bankrupt or otherwise, would need to have some income to keep oneself alive and to pay his/her creditors. But the key question is whether a bankrupt can be a CFO? In my opinion, NO. As a bankrupt, the person has demonstrated that he/she is unable to manage his own financial affairs. And thus I am unable to justify a bankrupt to manage the financial affairs of a company where the likelihood of many are at stake.