Intro 0:00
Many aspire to reach the upper echelon of the healthcare industry, but few are able to successfully navigate the corporate ladder. C-Suite Partners sits down with international healthcare executives, asking the tough questions and unpacking the personalities of the top industry leaders. Welcome to the Boardroom.
Michael Murray 0:35
Mr. Yet, thank you so much for being a part of C-Suite Partners’ “In the Boardroom”. I’m sure the viewers at home would like to understand a little bit about your current role and who you work for. Can you tell me a little bit about that, please?
Yet Kum Meng 0:46
Thank you, Michael, for inviting me here. Currently, I’m with OUE Healthcare. I’m the CEO there. We run a healthcare portfolio that covers healthcare assets and businesses from Singapore to Indonesia to Myanmar to Japan and China.
Michael Murray 1:06
I’m interested in all those geographies. What’s the most challenging to work in from a healthcare perspective? But what do you find most challenging?
Yet Kum Meng 1:15
I think we have to see these countries as each on its own. In fact, each has its own set of challenges. If you see Asia and even Southeast Asia, every country is so different. We are talking about culture. We are talking about language. We are talking about regulatory framework. We are talking about demographics. So it’s really a very different kind of environment that work in each country. I remember our founder, Chairman Dr. Mochtar Riady, once mentioned to us that whilst we may be successful in where we are, it’s actually challenging to carry this success model to another country, given the different situation. But whatever mistakes that we make in where we operate, you don’t repeat that and learn the lessons in another country.
Michael Murray 2:13
Right. What was your first role as a CEO, standalone CEO?
Yet Kum Meng 2:18
That was with Lippo when I was made the CEO for the Real Estate Division in China.
Michael Murray 2:27
Talk me through your mindset when you were given that role. What was the reality for you getting that call up?
Yet Kum Meng 2:34
I think it’s very different in the sense that as a CEO, it’s not about a particular profession. It’s not about a particular function. It has got to do a lot with certain strategic thinking. You’ve got to look at things holistically.
Michael Murray 2:52
Sure.
Yet Kum Meng 2:53
You need to look at things in a helicopter view. And many times because you are the CEO, and again, depending on which industry you are in, you’ve got to quickly pick up the technical knowledge of that industry. You need to quickly go into a very deep learning curve on the dynamics of the industry. So I think that makes a CEO very different from other professional managers, whereby you only need to focus on your professional competence to some extent. And sometimes within an organisation, you tend to take a very siloed view of things. Right? Let’s say, for example, you know when we do a transaction, the leader will always talk about the risk. You know, nobody really steps back and takes a look at things in totality. And sometimes there are conflicts. I think that is where a lot of communication, a lot of resource mobilisation, a lot of firefighting and even bridging of differences. So actually, it becomes a job of managing people as well.
Michael Murray 4:09
It really is. Sometimes I think when CEOs, because they’re dealing with so many things, you’ve you’ve probably got other portfolios you’ve got to look after. You’ve got other, you know, board reports, and you’ve got all these other things, and this is just one part of it. How do you emotionally regulate yourself so you’re not making decisions on emotion? And if you think about it, go, “Well, maybe my energy could have been pushed elsewhere.” Sometimes it works. How do you regulate that?
Yet Kum Meng 4:38
I think first of all, foremost, yeah, I think as a prerequisite, that person’s just got to have a very balanced emotion. I think the personality itself plays a big part. You’ve got to be rational. You’ve got to have a very balanced emotion. Rightly or wrongly, it makes a difference about the personality. It makes a difference on whether you could do that job because, as you say, the CEO is always burdened with many requirements, some very urgent. You know, for myself, I’m a night owl. I sleep very late. One of the reasons why I sleep very late is that because in the night, when things are a bit more quiet, more peaceful, you can actually clear some of the the backlog of the daytime. But more importantly, it gives you a certain peace and pause for you to think through matters in a more stable mindset.
Michael Murray 5:40
We’ve talked a lot with other executives on this series about having either a peer or a mentor to just talk about ideas with. And that sometimes can regulate the emotion. So the best CEOs that I’ve seen have been quite relaxed people. And I think of that when I first met them, going, “I thought you’d be more intense”, but that’s probably their longevity in in the game. And so, when you look at people who are going to be a part of your C-suite, what are you looking for when you’re interviewing them? Are you looking for, obviously, technical ability for sure. But are you looking for specific personality traits?
Yet Kum Meng 6:03
A person has to understand in their position that I don’t have the mentality that I need to solve all my problems before I can get to sleep. Because otherwise, you will never get to sleep. Because if all the problems can be solved, put another way, then we don’t need the CEO as well.
Michael Murray 6:35
Yeah, that’s right.
Yet Kum Meng 6:36
So it is always an ongoing problem that you have to learn to live with it. You have got to learn to master it. You have got to learn to really conquer it. As very senior people, very experienced people, what differentiates one from the other is not so much about the the technical knowledge. It’s more got to do with the the personality, the attitude, and the mindset. But having said that, yeah, I must confess that we are not always right. I mean, the one or two interviews sometimes is not so easy to to to pick the real traits of the person. Because he or she will come prepared.
Michael Murray 7:21
That’s right.
Yet Kum Meng 7:22
That’s a script. They know what you want to hear. They know what you want to see, and they behave accordingly.
Michael Murray 7:29
Sure.
Yet Kum Meng 7:30
If that person joins us, then I think it’s very important. A few things becomes very important. One, I think the onboarding part of things is very important. I think a lot of times, not even the C-suite officers, even in other levels, if the onboarding program can be properly planned and structured, it makes a big difference on how fast, how quick, how easy a newcomer can be adapted into the organisation. The other part of things is that the probation, I think we will take it very seriously. In the sense that whether that person meets the grade, fits the organisation, you’ve got to reach a core adjustment during the probation, you know. And if it doesn’t, it’s actually fair for yourself, for the organisation, and for the staff that we part on friendly terms during the probation.
Michael Murray 8:25
Fantastic. Well, Mr. Yet, thank you so much for your time, and it’s been a pleasure. Absolute pleasure.
Yet Kum Meng 8:30
Thank you.
