SINGAPORE: Loss-making Singapore flag carrier Neptune Orient Lines Ltd (NOL) could face a hefty payout after its Danish chief executive Flemming Jacobs made an abrupt departure this week, joining a growing list of foreign talent leaving underperforming state-linked companies.
An industry source said the package for Jacobs could be as much as S$25mil even as the world’s sixth largest shipping company faced a possible record loss for 2002 of more than US$250mil. NOL will unveil its results next month.