Singaporeans, permanent residents and foreigners were considered for the post.

The Temasek board announced last month their choice of American Charles Goodyear, the former chief executive of mining and resources giant BHP Billiton, two years after they had identified him as a candidate. He was appointed Temasek's CEO-designate this month and takes over from current CEO Ho Ching on Oct 1.

Mr Lim Biow Chuan, an MP for Marine Parade GRC, had asked about the steps taken by Temasek to find a replacement CEO, and if any Singaporeans were considered for the post.

In her reply, Mrs Lim set out the process.

Since early 2005 and on an annual basis, a subcommittee of the Temasek board of directors had worked with the incumbent CEO to review potential successor candidates.

She said that Temasek looks for candidates with commitment and capacity to be with the organisation for the longer term, and with a long-term perspective in managing and building it. The process enabled Temasek to identify 'excellent future CEO candidates even in their 30s, and nurture them as part of its pipeline of future successors'.

Current candidates for future CEO succession within Temasek are mostly in their late 30s or 40s and include Singaporeans as well as foreigners, she added.

The board chose Mr Goodyear because they believed his strong track record in managing a global enterprise and his experience in running an operating company would complement and add to the depth and capacity of their senior leadership team, Mrs Lim said.

Mr Goodyear's appointment, both as a board member and CEO successor, was subject to the President's approval, as is required under the Singapore Constitution.

The Cabinet discussed Temasek's nomination of Mr Goodyear and decided that the Government had no objection to Temasek appointing a foreigner as CEO if he was assessed by the board to be suitable and the best candidate available, Mrs Lim said.

It therefore endorsed Mr Goodyear's nomination, but also reaffirmed the need for the Temasek board to remain in the effective control of Singaporeans.

Temasek's recommendation was then put to the President for approval, and the President met with Mr Goodyear before giving his concurrence, she added.