Yes……the old guards are expected to leave the helm of the corporation very soon, not that I supported it but perhaps it is about time for them to rediscover the next phase in life after hitting or near hitting the 60s. After Song Yam Lim left to be non-executive director of MSIG, Michael Wong of MCIS Zurich (non-life) is retiring this June and KC Phang is expected to retire soon. With KC leaving, two hopeful succesors are now hitting the trail – you know what I meant – The big question for Tokio marine – Is this going to be Michael Heng or Jayakumar? On the other hand this may not be a reality as the Japanese may be bringing in their people from Headquarter to helm Tokio Marine just like what happened in MSIG. Yusof bin Idris of Oriental Capital (OCA) would also be retiring come the last quarter of this year.
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It is a fact – quite a number of companies are now considering retiring their staff force when they hit their 55th birdthday. Prudential assurance Malaysia had done it and is still doing it as part of their succession planning process.