Finance

Ho Ching to retire as CEO of Singapore’s Temasek Holdings on Oct. 1

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A sign from Temasek Holdings in their Singapore office.

Munshi Ahmed | Bloomberg | Getty Images

SINGAPORE – Singapore’s state-owned investment company Temasek Holdings announced Tuesday that Ho Ching will step down from their roles as Chief Executive and Executive Director on October 1st.

Ho, the wife of Singapore Prime Minister Lee Hsien Loong, has been Temasek’s CEO since 2004. He will be succeeded by Dilhan Pillay Sandrasegara, currently CEO of the company’s investment arm, Temasek International.

Temasek is one of the world’s largest investors. The portfolio was valued at $ 306 billion (US $ 230 billion) as of March 31 last year.

The succession of executives at Temasek has been discussed in detail for several years. Ho had planned to step down in October 2009 but persisted after CEO-designate Charles Goodyear left the company.

your new successor Pillay is a former corporate attorney who joined the company 10 years ago. He became CEO of Temasek International in 2019 and led the company’s investing activities.

Pillay will keep his role in the investment arm after becoming CEO of Temasek Holdings.

In the beginning, the company invested primarily in companies in Singapore, but has since grown to become a significant global investor.

The company’s 2020 annual report – the last available – showed that assets in China comprised 29% of its portfolio. It was followed by Singapore with 24% and North America with 17%, the report said.

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Robert Dunfee