Temasek CFO steps down amid senior management reshuffle

Global investment company Temasek has reshuffled its senior management as part of a recent organisational review.

Chief financial officer Leong Wai Leng is stepping down after 16 years in the role and will be appointed as president, Singapore market.

In this role, she will lead the Singapore market team to help shape and advance our strategic initiatives in Singapore, as well as our engagements with various Singapore stakeholders, the investment giant said in a statement.

Png Chin Yee, deputy CFO, will assume the CFO role from 1 January 2023. Chin Yee was previously heading the company’s financial services portfolio and was appointed deputy CFO since January 2020.

Tan Chong Lee will be transferred to 65 Equity Partners as CEO. 65 Equity Partners is our wholly-owned subsidiary and has been incorporated to focus on equity and structured equity investments, starting with Singapore and building its presence across Southeast Asia, Europe, and the United States. 

Chong Lee will relinquish his current role as president, Temasek but still remains connected with the firm in an advisory capacity. 

Pek Siok Lan, general counsel, will be on sabbatical leave from January 2023 and will return to the firm in July 2023 to assume a new role.

Temasek said it undertakes regular organisational reviews to evolve and align its organisation structure and capabilities towards various strategic initiatives. “This is also part of our disciplined way of succession planning for key leadership positions within the firm, which will see the evolution of the senior leadership team that will carry Temasek through our 2030 journey and beyond,” the statement added.