Singapore’s Temasek says no active search for CEO’s successor

SINGAPORE, July 8 (BestGrowthStock) – Singapore state investment
firm Temasek [TEM.UL] said current chief executive Ho Ching
would not be stepping down any time soon, and there was no
active search for a successor.

“Ho Ching is our CEO, she is continuing as our CEO,”
Executive Director Simon Israel told reporters in remarks
embargoed for Thursday.

“There is no, underline no, active, immediate search for a
CEO.”

Ho, the wife of Prime Minister Lee Hsien Loong, has been
Temasek’s CEO since January 2004.

She was scheduled to leave Temasek in October last year but
her designated successor, former BHP Billiton (BHP.AX: ) (BLT.L: )
CEO Charles Goodyear, quit the wealth fund in July citing
differences in strategy. [ID:nSIN521289]

Temasek said in May that former Singapore Exchange
(SGXL.SI: ) CEO Hsieh Fu Hua will join Temasek as executive
director and president in August to assist Ho in areas such as
talent development and succession planning.

“When he comes on board, he will support Ho Ching in
bringing through the next generation of leaders,” Israel said.
“I don’t think he is there to specifically find a successor for
Ho Ching.”
(Reporting by Raju Gopalakrishnan; Editing by Muralikumar
Anantharaman)

Singapore’s Temasek says no active search for CEO’s successor