Ho Ching Is Stepping Down As Temasek CEO On October 1
According to a statement from Temasek Holdings, CEO Ho Ching will retire and step down from his board on October 1, 2021.
She will be replaced by Dilhan Pillay Sandrasegara, who will simultaneously hold her current role as CEO of Temasek International (TI).
The change was announced by Lim Boon Heng, chairman of Temasek Holdings.
Temasek Holdings is a Crown corporation that manages an investment fund on behalf of the Government of Singapore.
Leadership succession is a strategic responsibility of the board. We have implemented an annual review since the early 2000s.
This allows the Board to prepare for all eventualities, with different succession options over different time horizons.
Lim Boon Heng, Chairman of Temasek Holdings, in a statement
Dilhan joined Temasek 10 years ago, and has “played several critical roles in Temasek,” including a two-year stint as Chief, Americas, based in New York, according to the Temasek statement.
He was appointed CEO of Temasek International in 2019. In this capacity, he was responsible for Temasek’s role as an investor, managing Temasek’s investment and portfolio activities.
Pass the leadership stick
Ho first joined Temasek Holdings in 2002, and Temasek’s portfolio stood at S $ 90 billion, primarily in Singapore, when she was appointed CEO in 2004.
The portfolio has since tripled to over S $ 300 billion, despite the impact of the global financial crisis, and now Covid-19.
In a statement, she said she was happy to hand over her leadership role to Dilhan.
I know Dilhan will take Temasek to the next level. He brings solid values, a decade of experience in the firm, in addition to a wealth of experience before joining Temasek.
More importantly, he also brought new ideas which are essential to support any organization. I have full confidence in Dilhan and his team to transform Temasek again, to be more than he is today.
Ho Ching in a statement released by Temasek Holdings
Featured Image Credit: Fortune
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