According to a statement by Temasek Holdings, chief executive officer Ho Ching will be retiring and stepping down from its Board on 1 October 2021.
She will be succeeded by Dilhan Pillay Sandrasegara, who will concurrently hold his current appointment as CEO of Temasek International (TI).
The change was announced by Lim Boon Heng, Chairman of Temasek Holdings.
Temasek Holdings is a state-owned company that manages an investment fund on behalf of the Government of Singapore.
Leadership succession is a strategic responsibility of the Board. We have had in place an annual review since the early 2000s.
This is to enable the Board to be prepared for all eventualities, with various 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 Head, Americas, based out of New York, according to the statement by Temasek.
He was appointed CEO of Temasek International in 2019. In that role, he was responsible for the investor role of Temasek, managing the investment and portfolio activities of Temasek.
Passing On The Leadership Baton
Ho first joined Temasek Holdings in 2002, and Temasek’s portfolio stood at S$90 billion mostly in Singapore when she was first appointed CEO in 2004.
The portfolio has since tripled to over S$300 billion, notwithstanding the impact of the global financial crisis, and now Covid-19.
In a statement, she said that said she is happy to be passing on 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, on top of a wealth of experience prior to joining Temasek.
More importantly, he has also brought fresh ideas that are essential to sustaining any organisation. I have full confidence in Dilhan and his team to transform Temasek once again, to be more than it is today.
Ho Ching in a statement released by Temasek Holdings
Featured Image Credit: Fortune