165 firms with over S$500 million in shareholders’ equity headed by Singaporean CEO, managing director

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165 firms with over S$500 million in shareholders’ equity headed by Singaporean CEO, managing director
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Potential presidential candidates looking to qualify under the private sector service requirement must have served for at least three years as chief executive of these companies.

This is unlike the private sector service requirement, where there are financial performance indicators, such as profitability, that can serve as an objective assessment on how the applicants have performed in the companies with them at the helmHe also said that while the Commission acknowledged that the performance of public sector organisations can, to a limited extent, be measured, these performance indicators were likely to be representative of only a part of the organisation’s work.

“These indicators may not reflect the success of the policies implemented by these public sector organisations, which sometimes take a significant amount of time to bear fruit,” he said. Lastly, Mr Chan noted that the Commission’s view was that the list of qualifying public sector offices was"tightly drawn". This would have provided candidates who had served in these offices with the experience of leading “substantial organisations with sizeable workforces”, dealing with “complex matters having a wide-reaching public dimension” and grappling with “the contrary pulls and pressures of government decision-making".

He said: “In summary, while the private and public sector service requirement tracks are both aimed at identifying candidates with the necessary skills and experience for the office of the President, the nature of the work in the private and public sector are different.Source: CNA/ga

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