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Temasek International names Lee Theng Kiat chairman, Dilhan Pillay CEO
TEMASEK International, the investment and management arm of Temasek Holdings, announced on Tuesday that Dilhan Pillay Sandrasegara will succeed Lee Theng Kiat as chief executive officer from April 1.
Mr Lee will take over from Ho Ching as Temasek International chairman on the same date. Ms Ho remains executive director and chief executive officer of Temasek Holdings.
As CEO of Temasek International, Mr Pillay will be responsible for Temasek's role as an active investor and shareholder. He will also oversee the operations of the firm and the organisation of its talent and resources to deliver sustainable long-term returns for Temasek.
Mr Lee, who is concurrently an executive director of Temasek Holdings, will oversee the development of Temasek as a forward-looking institution, and will work closely with Mr Pillay on commercial strategies and portfolio matters.
The succession was announced by Mr Lee at a staff briefing on Tuesday afternoon.
He said: "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."
Ms Ho noted: "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."
She added that Mr Lee's taking over as chairman of Temasek International will provide steady continuity and support to Mr Pillay and his team, amid active change to fulfil Temasek International's roles as an active investor and forward-looking institution.