SINGAPORE - Mr Dilhan Pillay Sandrasegara will be appointed chief executive of Temasek International, the wholly-owned management and investment arm of Singapore investment firm Temasek Holdings, with effect from April 1.
Mr Pillay, 55, is currently deputy chief executive and will succeed Mr Lee Theng Kiat, 65.
Mr Lee takes over from Ms Ho Ching as chairman of Temasek International on April 1 as well.
Ms Ho, 65, will remain as executive director and CEO of Temasek Holdings, Temasek International's parent company.
As CEO, Mr Pillay will be responsible for the role of Temasek as an active investor and shareholder. He will also oversee the operations of the company, and the organisation of its talent and resources to deliver sustainable long-term returns for Temasek. Temasek has a net portfolio value of $308 billion as at March 31, 2018.
As chairman and concurrently executive director of Temasek Holdings, Mr Lee will oversee the development of Temasek, and will work closely with Mr Pillay on commercial strategies and portfolio matters.
Mr Pillay has held various leadership positions in Temasek since 2010, including leading its investment and portfolio management groups, and overseeing the United States and Americas market teams. He also initiated and led the enterprise development group to build new growth engines through innovation, and to seed or develop new enterprises.
He has also been an active participant in various public policy consultations and engagement forums, drawing on the legal experience from his earlier career in corporate law, mergers and acquisitions, corporate governance, and his extensive business network across the world.
Ms Ho said: "Temasek needs to be ready for disruptive challenges and opportunities in the decade ahead. The demands on our three roles as investor, institution and steward have also increased in tandem with our portfolio growth, breadth and coverage.
"The Temasek Board, together with Theng Kiat and I, are pleased that the future leadership team of Temasek is well in place."
Adding that she was very glad that Mr Lee has agreed to take over as Temasek International’s chairman to support and guide Mr Pillay and his team, Ms Ho said that "this will provide steady continuity amidst active change to fulfil Temasek International’s key roles as an active investor and a forward-looking institution".
Mr Pillay noted that Temasek has a more global portfolio and diversified workforce now, and that in recent decades, it has tapped longer-term opportunities outside Asia.
"I am fortunate that we have a team in Temasek with a strong sense of purpose and a commitment to integrity and excellence," he said.
"These are built on the foundation laid by many generations of dedicated staff, including Ho Ching and Theng Kiat. I look forward to working together with the team to take Temasek into the future."