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Following is a transcript of the meet-the-media session by the Secretary for the Environment, Transport and Works, Dr Sarah Liao, after attending KCRC Managing Board meeting this evening (March 14):
SETW: Today we have a special KCRC Board meeting. Members have unanimously agreed that we must maintain high level of transparency and accountability within the company. And more importantly, we must maintain a safe and efficient railway service for the public. For corporate governance, we maintain that it is important to have a separate mode for the Chairman and the CEO. Because it has the check and balance effect in any large corporation. As far as the dispute or disagreement between the Chairman and CEO, this is not something unusual, it happens a lot of time in corporations. The important thing is for the two personalities to work out solution, compromise and accommodate each other's difference. We have separately met with the Chairman and CEO today and heard their case on the recent dispute that is being publicised widely. The Managing Board has come up with a conclusion and basically we have an in-principle consensus on the issue. And we would work out the details as soon as possible and report back to the Chief Executive.
Reporter: Do you think the crisis has now been resolved?
SETW: As I said the dispute between Chairman and CEO is not something unusual. So I do not consider it as a crisis in that sense. As long as the two are willing to work together, it is a solution.
(Please also refer to the Chinese portion)
Ends/Tuesday, March 14, 2006
Issued at HKT 20:15
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