Every time we have a local CEO
True, but not quite the full story. We've had a few non-local CEOs who've gone the slash & burn cheap-cheap-cheap avenue as well. Business class salt and pepper shakers anyone??
Regardless of their origin, they're all products of long-term employment and grooming for the big jobs by our parent company's management training system.... cough cough.
And to be fair, there's probably more than enough quality local candidates available, but they're not beneficiaries of the wonderful management training scheme, and therefore "don't understand the Cathay way"