Wednesday, February 10, 2010

February 06, 2009 18:28 PM

Singapore's Temasek Holdings Announces Leadership Change

SINGAPORE, Feb 6 (Bernama) -- Temasek Holdings, Singapore's government global investment firm, today announced that its chief executive officer (CEO) Ho Ching will step down this October.

Ho, 55, who is the wife of Prime Minister Lee Hsien Loong, will be replaced by former CEO of BHP Billiton, Charles W. Goodyear, 51, an American who joined the Temasek board on Feb 1.

The announcement on Temasek's leadership transition was made by the company's chairman S. Dhanabalan at a press conference here.

Goodyear will assume the position of CEO-designate on March 1 and succeed Ho on Oct 1 to run Temasek which manages a diversified US$134 billion portfolio.

Dhanabalan said Ho, who has been at the helm of Temasek for over six years, was instrumental in bringing Goodyear on the board which had been working on the appointment for more than a year.

Last year, Ho was named by Forbes Magazine as the eighth most powerful woman in the world in its 2008 list of the top 100 women based on their career, economic impact and media coverage.

-- BERNAMA

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