SINGAPORE (BLOOMBERG) - Temasek Holdings Pte has appointed Lee Theng Kiat as director of the investment firm's board, six months after he became head of Temasek International, Temasek's management arm in charge of all staff other than the CEO and chief financial officer.
Mr Lee will join the Temasek board as of April 1 and will also join the board's executive committee, Temasek said in an statement on its website on Thursday. His responsibilities as head of Temasek International will be unchanged, according to the statement.
Mr Lee was appointed chief executive officer of Temasek International on October 1, seen as a first step in the succession planning of Singapore's state-owned investment company. Temasek had tapped former BHP Billiton Ltd. head Charles "Chip" Goodyear to replace Chief Executive Officer Ho Ching in 2009, a handover that was aborted because of differences in strategy.
Ms Ho currently oversees the investment firm's stewardship role, including the constitutional responsibility to protect Temasek's past reserves. She is also chairman of Temasek International and executive director on the Temasek board.