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Goodbye, Mr Chip

The official line why Charles “Chip” Goodyear will not become chief executive of Temasek Holdings as planned is that the American executive and the board of the giant Singapore investment fund did not quite see eye-to-eye on strategy. If that’s the case, it’s hard to understand why it took them five months to discover the yawning gulf between them.

Whatever the reason, a rare opportunity to shed some of the image problems that have plagued Temasek and other sovereign wealth funds has now been lost.