A Leadership Transition at Temasek Holdings

In a significant shift in leadership, former senior minister Teo Chee Hean is set to take the helm as the next chairman of Temasek Holdings, Singapore’s esteemed state investor. Teo will succeed Lim Boon Heng, who has announced his retirement effective October 9, 2025.

Teo Chee Hean's Impressive Journey Begins

Teo is stepping into the role as deputy chairman on July 1, laying the groundwork for his official takeover in October. Lim has been at the forefront for an impressive 12 years, during which he has driven Temasek's global expansion and played a vital role in corporate governance and sustainability initiatives, especially during the challenges of the Covid-19 pandemic.

Acknowledgments from the Top

Prime Minister Lawrence Wong expressed gratitude to Lim for his dedicated service, stating that Temasek has flourished under his leadership, establishing itself as a global leader in sustainable development. He welcomed Teo, emphasizing his extensive public service experience and strategic insight into Singapore’s priorities, ensuring a smooth transition and continued success for Temasek.

Teo's Stellar Background in Public Service

Teo Chee Hean is no stranger to leadership, having been a key figure in Singapore's third-generation government. His illustrious career includes serving as deputy prime minister and as the Coordinating Minister for National Security. Teo’s journey began in the navy, where he eventually became chief of the navy before transitioning into a political career.

Change on the Board: Upcoming Retirements

In addition to Teo’s appointment, Temasek announced that board members Cheng Wai Keung, Stephen Lee, and Bobby Chin will be retiring, with Cheng and Lee stepping down on June 30 and Chin leaving on July 31. Their contributions have been invaluable over the years, marking the end of an era on the board.

Temasek's Global Footprint and Future Vision

With a staggering net portfolio value of $389 billion as of March 21, 2024, Temasek stands as a pivotal player in Singapore's economic landscape. Teo acknowledged the growing global uncertainties and the importance of maintaining focus on vital issues like international relations and climate change. He expressed his eagerness to collaborate with the Temasek team to navigate the road ahead.

A Forward-Looking Perspective

Teo's commitment is clear as he looks to address today's challenges while anticipating future trends, ensuring Temasek continues to thrive in the evolving global environment. He remarked, "I look forward to working with the board and management team to build upon the achievements of Temasek and chart a successful future."