CDL Group Chief Executive Accuses Dr. Wu of Interfering in Corporate Governance
Background of the Dispute
A dispute has been ongoing at City Developments Ltd (CDL) group, a property behemoth, which has been making headlines in recent days. The root cause of the issue, according to CDL group chief executive Sherman Kwek, lies in a serious matter of corporate governance involving Dr. Catherine Wu.
Dr. Wu’s Involvement
In his latest statement, Kwek highlighted Dr. Wu’s role as an adviser to the board of Millennium & Copthorne Hotels (M&C), a wholly owned subsidiary of CDL. He stated that Dr. Wu has been interfering in matters beyond her scope, wielding significant influence and causing concern among the directors.
Concerns about Dr. Wu’s Role
Kwek expressed concerns that Dr. Wu’s involvement in matters has been problematic, stating, "She has been interfering in matters going well beyond her scope, and she wields and exercises enormous influence. These matters have troubled us as directors." He also noted that Dr. Wu has a long-standing relationship with the senior Kwek, and that attempts to manage the situation have been made, but to no avail.
Conclusion
The ongoing dispute at CDL group has been attributed to a serious issue of corporate governance involving Dr. Wu. As the chief executive, Sherman Kwek has expressed concerns about her role and influence, highlighting the need for a resolution to this matter.
Frequently Asked Questions
Q: What is the root cause of the dispute at CDL group?
A: The primary reason is a serious issue of corporate governance involving Dr. Catherine Wu.
Q: What is Dr. Wu’s role in M&C?
A: She is an adviser to the board of Millennium & Copthorne Hotels (M&C), a wholly owned subsidiary of CDL.
Q: What are the concerns about Dr. Wu’s involvement?
A: She has been interfering in matters beyond her scope, wielding significant influence, and causing concern among the directors.
Q: What steps have been taken to address the situation?
A: Efforts have been made to manage the situation, but to no avail.
