Temasek says no active search for CEO’s successor

July 8, 2010
Singapore Democrats

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Raju Gopalakrishnan
Reuters

Singapore state investment firm Temasek said current chief executive Ho Ching would not be stepping down any time soon, and there was no active search for a successor.

“Ho Ching is our CEO, she is continuing as our CEO,” Executive Director Simon Israel told reporters in remarks embargoed for Thursday.

“There is no, underline no, active, immediate search for a CEO.”

Ho, the wife of Prime Minister Lee Hsien Loong, has been Temasek’s CEO since January 2004.

She was scheduled to leave Temasek in October last year but her designated successor, former BHP Billiton CEO Charles Goodyear, quit the wealth fund in July citing differences in strategy.

Temasek said in May that former Singapore Exchange CEO Hsieh Fu Hua will join Temasek as executive director and president in August to assist Ho in areas such as talent development and succession planning.

“When he comes on board, he will support Ho Ching in bringing through the next generation of leaders,” Israel said. “I don’t think he is there to specifically find a successor for Ho Ching.”

http://af.reuters.com/article/metalsNews/idAFSGC00365320100708