Temasek Holdings CEO Ho Ching was recently the focus of Taiwan's media.
This was sparked by comments she had made on her Facebook with regard to Taiwan's mask donation.
One of the claims that came out of Taiwan during this period was how Ho Ching was earning around S$100 million a year.
According to Temasek, this claim was made during an Asian "talkshow commentary".
Temasek has come out to refute the claims in a statement on Apr. 19:
"This claim is false.
Furthermore, Ho Ching’s annual compensation is neither the highest within Temasek, nor is she amongst the top five highest paid executives in Temasek."
In their statement, Temasek also touched on other aspects of their compensation framework.
Here is their full statement.
"Temasek has a long term ownership mindset. This includes its compensation framework to align employee and shareholder interests over economic cycles. This is part of our ethos of doing the right thing, as a forward looking institution.
Incentives focus on long term performance, and ensure employees share gains and pains alongside Temasek’s shareholder during the economic cycles. Deferred compensation is an integral part of our compensation and clawbacks have been applied during years where the performance requires it.
We also review compensation practices across the financial industry annually. This is an added check to support talent attraction and retention, within the context of our compensation framework.
There has been chatter based on an Asian talk show commentary, which claims that Ho Ching’s annual salary is around S$100 million.
This claim is false.
Furthermore, Ho Ching’s annual compensation is neither the highest within Temasek, nor is she amongst the top five highest paid executives in Temasek."
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