STEC CEO position up for grabs


The Ministry of Public Enterprises has advertised the Chief Executive Officer position for the Samoa Trust Estate Corporation.

The deadline is 24 November. 

The CEO according to MPE should have the ability to recognize opportunities that the Corporation can utilize to secure resources from local and international sources to support the implementation of its programs and the strengths and potentials of its personnel in meeting the corporation’s vision and goals.

The current CEO is Patea Loli Malo Setefano. 

“The CEO should have to ability to make timely and effective decisions and produce results through strategic planning and implementation and evaluation of programs and policies to inform policy and operation reforms and also considers emerging trends and multiple perspectives when assessing impact, long-term opportunities and viable solutions.

“Further drives and sustains a performance culture and inspires a strong desire to succeed and work towards goal accomplishments.

“Also to have good command skills and encourages internal feedback and external assessment for improving the Corporation’s performance and take personal responsibility for outcomes.

“Furthermore the CEO should have the ability to acquire and administer resources (human, financial, material, information) in a manner that instils public trust and accomplishes the Corporation’s goals.” 

The STEC’s latest annual report for 2020 came under the scrutiny of Samoa’s Controller and Auditor General over the Corporation’s financial stability after the accumulated loss of $7 million tala; which the Auditor claims “raises doubts” on the Corporation’s “continuation as a going concern”.

The Annual Report obtained by Radio Polynesia at that time says the STEC’s continuation is a going concern depending on the ability of the Board and Management to achieve the Corporations planned activities for the coming years.

“The results for the year-end 30 June 2020 showed a trading loss of $2 million and added to the profits and loss appropriation accounts of $5.62 million tala the accumulated loss amounts to $7.7 million tala as of 20 June 2020.

“The financial statements show a working capital deficit of $1.2 million.