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Temasek's Ho Ching returns in October as president takes bigger role
[SINGAPORE] Ho Ching, chief executive officer of Temasek Holdings, will return from a six-month sabbatical at the end of October as one of the investment company's three presidents takes on a bigger role.
Lee Theng Kiat, the Temasek president who was in charge while Ho was away, will become CEO of Temasek International, the management arm in charge of all staff other than the CEO and chief financial officer, according to a statement on its website.
"As CEO of TI, Mr Lee will be responsible for Temasek's role as an active investor and shareholder," Temasek said in the statement. "He will oversee Temasek's commercial strategies and portfolio, and build up the management and operational capabilities at TI to support the next phase of Temasek's development."
Ms Ho, who will remain as CEO and executive director at Temasek, will take on the role of chairman for Temasek International. The changes take effect from Oct 1.
Ms Ho began her sabbatical in April following the surgery in February of her husband, Prime Minister Lee Hsien Loong, after he was diagnosed with prostate cancer. Mr Lee's father, Lee Kuan Yew, who was Singapore's first premier, died on March 23. She will continue to oversee Temasek's "stewardship role," including the responsibility to protect the company's past reserves, it said.