**Temasek Holdings Announces Leadership Transition with New Chairman**
Temasek Holdings Pte has announced a significant leadership change as Chairman Lim Boon Heng steps down, with Teo Chee Hean set to take over the role on October 9. This transition marks a pivotal moment for the Singapore state investor, which has seen substantial growth in its portfolio over the past decade.
Teo, a former Singapore Cabinet minister, recently retired from politics after more than 30 years of service. He held various key positions, including Senior Minister and Coordinating Minister for National Security, and previously served as Deputy Prime Minister. His extensive experience in governance and public service is expected to guide Temasek through the complexities of global investment.
As part of this leadership shift, Deputy Chairman Cheng Wai Keung and director Stephen Lee will depart from the board on June 30, while director Bobby Chin will retire on July 31. Lim, who has been at the helm since August 2013, focused on talent development and enhancing the board’s international representation. He also played a crucial role in the leadership transition of the company’s CEO in 2021.
Temasek, one of the world’s largest state-owned investment firms, has seen its net portfolio value rise from S$223 billion ($173 billion) to S$389 billion over the past ten years, reflecting its robust investment strategy. The firm has a significant presence in Europe and the US, with six of its 13 international offices located in these regions.
In a statement, Teo emphasized the importance of maintaining clarity on critical global issues such as international relations, security, and climate change. He will initially join Temasek’s board as Deputy Chairman on July 1.
Temasek is known for its investments in major global companies, including BlackRock Inc., Alibaba Group Holding Ltd., Mastercard Inc., Standard Chartered Plc, and Tencent Holdings Ltd., as of March 2024. The leadership transition is poised to influence the company’s strategic direction in an era marked by increasing global uncertainty.
**FAQ**
**Q: Who is the new chairman of Temasek Holdings?**
A: Teo Chee Hean will succeed Lim Boon Heng as the chairman of Temasek Holdings, effective October 9.
