“Execute or be executed” reads the mantra from Khazanah on its plans for the reform of the government-linked companies (GLCs) under its control. Amid talk of performance contracts for top teams, there is evidence that the implied threat indeed has an explicit outcome.
Since the appointment of Dato’ Azman HJ Mokhtar as managing director at Khazanah, the axe has fallen on incumbent boards and management at Tenaga Nasional Berhad, Telekom Malaysia, Proton and Malaysia Airlines System (MAS) among others.
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