Lee Theng Kiat, president of Singapore sovereign wealth fund Temasek Holdings Pte. Ltd., was appointed CEO of Temasek International, the wholly owned management arm of Temasek, effective Oct. 1, a news release on the S$266 billion ($190 billion) fund’s website said Wednesday.
All Temasek staff, except the holding company’s CEO and chief financial officer, were transferred to Temasek International when it was set up in 2011.
The news release said Mr. Lee will “oversee Temasek’s commercial strategies and portfolio,” guiding the organization’s development and efforts to deliver “sustainable long-term returns.”
Ho Ching, Temasek Holdings’ executive director and CEO, currently on sabbatical, will take on the additional title of chairman, effective Oct. 1. She will return from sabbatical in late October.