IN THE end, Tengku Tan Sri Mahaleel Tengku Ariff made one fatal mistake that cost him his job. The mistake: no matter how good a CEO one may be, one doesn’t own the company. The shareholders do.
In the case of Proton Holdings Bhd, the controlling shareholder is Khazanah Nasional Bhd, the government investment agency, which owns 42.7% of Proton.
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