Mahaleel Did Not Agree To New Contract
More updates on the Proton CEO issue. Tengku Mahaleel’s contract was not renewed because he did not agree to the new two-year contract the board presented them with.
He felt the terms was inferior to the ones he had presently.
Dr Mahathir:
Apparently there was no willingness to consider (Tengku) Mahaleel’s views so he refused to sign and the board decided not to renew his contract.
He also said Tengku Mahaleel’s ability to run Proton was cramped after he had been demoted to ordinary director whereas the chairmanship of these subsidiaries were assumed by the chairman of the holding company, Datuk Azlan Hashim.
Hmm… give him terms he would not agree to so they could get Mahaleel to effectively kick himself out of the board so they would not have to do it themselves. The oldest trick in the book!
Source: Bernama, The Edge Daily
July 26, 2005 @ 3:35 pm
precisely. that way it seems, ‘officially’, that mahaleel to the step to bow out. mahathir’s insisting on the reality of the situation, and i wonder who mahathir will shoot down this time ‘by implication’.
July 26, 2005 @ 4:14 pm
Pathetic. I’d like to see TM ejected due to valid reasons. This is not healthy.
Proton shouldn’t blame its failure on TM alone. =.=”
July 26, 2005 @ 5:18 pm
politics!
July 26, 2005 @ 10:03 pm
So long fella, see you down the river……so is it?
July 27, 2005 @ 8:27 am
my olfactory organ is detecting the scent of plenty of bovine excrement on this issue!
July 27, 2005 @ 11:42 am
What else is new? GLC what!
July 31, 2005 @ 9:19 pm
I think its time he went anyways. Having lived in the UK for a while, Proton is and will continue to be a joke unless much needed change takes place. A foreign CEO ? Well, if thats what it takes. Where he is from is not an issue, what he or she can do is.