SINGAPORE - Temasek International, the management arm of Temasek Holdings, has appointed Mr Lee Theng Kiat as its chief executive officer.
He will report to Ms Ho Ching who remains the executive director and CEO of the larger group Temasek Holdings, according to a statement released by the Singapore investment firm on Wednesday.
Temasek International was formed back in 2011. All staff of Temasek Holdings, except its chief executive and chief financial officer, were transferred to Temasek International when it was first formed.
"As CEO of TI, Mr Lee will be responsible for Temasek's role as an active investor and shareholder. He will oversee Temasek's commercial strategies and portfolio, and build up the management and operational capabilities at TI to support the next phase of Temasek's development and deliver sustainable long term returns," said the statement.
Mr Lee joined Temasek in 2012 and was appointed president. He was one of three presidents at Temasek.
Prior to Temasek, Mr Lee was the President and CEO of ST Telemedia and held various senior positions in Singapore Technologies Pte Ltd (ST).
Ms Ho will return from her part-time sabbatical in late October, said Temasek.
"She continues to oversee our stewardship role, including the constitutional responsibility to protect Temasek's past reserves," the company added.
Temasek's portfolio stood at $266 billion as at March 31, 2015.