Temasek International names Lee Theng Kiat chairman, Dilhan Pillay CEO
Singapore state firm Temasek Holdings Pte Ltd has appointed Dilhan Pillay Sandrasegara as the chief executive officer of its wholly owned management and investment arm.
Dilhan Pillay Sandrasegara (55) will succeed LEE Theng Kiat (65) as Chief Executive Officer of Temasek International, with effect from April 1st, 2019.
Lee will take over from HO Ching as Chairman, Temasek International, on the same date.
As CEO of Temasek International, Pillay will be responsible for the role of Temasek as an active investor and shareholder. He will also oversee the operations of the firm, and the organization of its talent and resources to deliver sustainable long term returns for Temasek.
As Chairman of Temasek International, and concurrently an Executive Director of the parent company, Temasek Holdings, Lee will be overseeing the development of Temasek as a forward-looking institution, and will work closely with Pillay on commercial strategies and portfolio matters.
Pillay has held various leadership appointments in Temasek since 2010, including leading its Investment and Portfolio Management Groups, and overseeing the US and Americas market teams. He also initiated and led the Enterprise Development Group, to build new long term growth engines for the firm through innovation, and to seed or develop new enterprises with the potential to be domestic, regional or global champions.
Pillay has also been an active participant in various public policy consultations and engagement forums, drawing on the legal experience from his earlier career in corporate law, mergers and acquisitions, corporate governance, and his extensive business network across the world.
Incoming Chairman of Temasek International, Lee, announced the succession at a staff briefing this afternoon. He said: “I am pleased today to let you all know that Dilhan will be taking over from me from 1 April 2019. Let me also say that he has the full support of our senior team and the Temasek Holdings Board.
“We have been working for some time to build a strong leadership bench in Temasek, and I know Dilhan will bring his vision and passion for our mission to his new role. I look forward to working with Dilhan in his role as the new CEO.”
Lee added: “Dilhan has the ability to connect the dots, a keen eye for details and practical solutions, and a boldness to break new ground in anticipation of longer-term trends. He also has the support of his peers and colleagues to take the lead and reshape Temasek to be more ready to invest into a better, smarter and more connected world, and in a new environment with cyber threats and technological opportunities.”
Pillay shared: “The Temasek of today is a very different one to that which I joined, almost a decade ago. Today, we have a more global portfolio and diversified workforce; and we have actively transformed our portfolio from its Singapore origins to one which is growing strongly with Singapore and Asia. In recent decades, we have also tapped on longer-term opportunities outside Asia.”
“The world is much more connected now. We look at global trends, invest across the world, and are constantly adapting ourselves to stay relevant. We are a builder of businesses, and more importantly, talent.”
“I am fortunate that we have a team in Temasek with a strong sense of purpose and a commitment to integrity and excellence. These are built on the foundation laid by many generations of dedicated staff, including Ho Ching and Theng Kiat. I look forward to working together with the team to take Temasek into the future.” he said.
Commenting on the leadership appointments within Temasek International, Ho Ching, CEO of Temasek Holdings, said: “Temasek needs to be ready for disruptive challenges and opportunities in the decade ahead. The demands on our three roles as investor, institution, and steward have also increased in tandem with our portfolio growth, breadth, and coverage. The Temasek Board, together with Theng Kiat and I, are pleased that the future leadership team of Temasek is well in place.”
Temasek’s portfolio has more than doubled from S$103 billion in 2005, to reach S$266 billion a decade later on 31 March 2015, anchored largely in Singapore and Asia. The portfolio rose to S$308 billion by March 2018.