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Temasek International makes senior leadership changes
[SINGAPORE] Temasek International, the management arm of Temasek Holdings, said chief executive Lee Theng Kiat will take on the additional role of deputy chairman from Monday (Oct 16).
The appointment was among several announced as part of efforts to prepare for its next phase of development, the firm said.
Dilhan Pillay has been named deputy chief executive officer of Temasek International, in addition to his current role as president.
Chia Song Hwee, the joint head of Temasek's investment group, will take on the additional roles of president and chief operating officer of Temasek International.
Tan Chong Lee will be appointed president of Temasek International, on top of his current role as head of Temasek Europe.
Temasek International chairman and Temasek Holdings CEO Ho Ching will remain in those roles.
"As our organisation and the operating environment evolve, the need to operate with agility, alignment and accountability has never been more important. It is critical for us to build a strong culture of ownership within our firm and our people," Mr Lee said.
CIMB Private Bank economist Song Seng Wun said the tweaks to the senior management team reflects Temasek's belief in promoting from within: "It projects confidence in their pool of local talent that they believe these are the leaders who can continue taking Temasek forward.
"The world of investing is a lot more challenging now, with low growth, low interest rates and low inflation rates. Allowing these senior maagers to take on new responsibilities reflects Temasek's aim to help them learn and gain more exposure."
He noted too that Mr Pillay's appointment shows that he is likely being groomed for big things at Temasek. "It certainly gives that impression, with the additional responsibilities."
THE STRAITS TIMES