Ho Ching to retire from Temasek Holdings

Dilhan Pillay Sandrasegara is succeeding Ho Ching as Executive Director and Chief Executive Officer of Temasek Holdings with effect from 1 October 2021. He will concurrently hold his current appointment as Chief Executive Officer of Temasek International.

Ho Ching is retiring from Temasek Holdings and step down from its Board on the same date.

Announcing the change today, Lim Boon Heng, Chairman of Temasek Holdings, noted: “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.

“Ho Ching has been very much part of this process. Indeed, she has been very active, working over the years to identify various potential successors both inside and outside of Temasek. She has also played a key role in nurturing a strong leadership bench in Temasek, several of whom have gone on to CEO appointments beyond Temasek.

Already established as one of the leading corporate lawyers heading a major law firm, Dilhan joined Temasek ten years ago with a sense of mission and purpose. He brought with him a wealth of experience, a rich network across the region, a keen sense of markets and commercial discipline, and above all, a commitment to build and transform people and organizations for the longer term, as well as to embed culture and values for a greater purpose.

Since then, he has played several critical roles in Temasek, including a two-year stint as Head, Americas, based out of New York. He was appointed CEO of Temasek International in 2019. In that role, he has been responsible for the Investor role of Temasek, managing the investment and portfolio activities of Temasek.

“As CEO of Temasek Holdings, Dilhan will have the responsibility for the Stewardship role of Temasek, particularly in respect of Temasek’s Constitutional responsibilities to safeguard its own past reserves, as a Fifth Schedule entity. The Board looks forward to working with him, as the owner of those responsibilities, and will support him and his team in whatever ways needed.” Lim said.

Lim also thanked Lee Theng Kiat for his commitment and service as he retires from his executive role at the same time. “We are delighted that Theng Kiat will remain as a non-executive member of the Temasek Board, and continue as non-executive Chairman of TI. This will provide continuity during this leadership renewal, as well as allow us to continue to tap on his experience as a business builder, as well as his commercial network,” Lim concluded.

Pillay said he was honored to take on the new appointment. “I thank the Board for its confidence in me and our senior management team. I am especially grateful to Ho Ching and Theng Kiat for laying down a strong foundation for Temasek as it navigates a world of continuous change, increasing complexity and ambiguity. In continuing our mission to generate long term sustainable returns beyond our current generation, core to our success will be our commitment to building a better, more sustainable world.”

Source: Yahoo.com