SINGAPORE — Temasek Holdings CEO and executive director Ho Ching, who will retire and step down from its board with effect from Friday (1 October), will be the Chairman of Temasek Trust from 1 April 2022.
Ho will succeed S Dhanabalan, who has been Chairman of Temasek Trust since September 2015 and will remain on the board and be designated Chairman Emeritus, Temasek Trust said in a statement on Thursday. She will also be appointed to Temasek Trust’s board of directors with effect from Friday.
Temasek Trust was set up by Temasek in 2007 to provide governance and financial oversight of Temasek’s philanthropic endowments. It has funded designated beneficiaries, such as Temasek Foundation, Stewardship Asia Centre and Temasek Life Sciences Laboratory.
Dhanabalan said, “Ho Ching has a deep and passionate commitment to so many community causes, and has been instrumental in Temasek’s own stewardship journey over the past two decades. The Board decided we would ask her to join us, and to continue that commitment by leading Temasek Trust next year.”
Ho said she was honoured to be invited to join the board of Temasek Trust. “I am very impressed by the remarkable progress that Temasek Trust has made...Temasek Trust has enabled a steady and sustainable support for Temasek Foundation and other initiatives to deliver vitally important programmes in the communities in Singapore and around Asia.”
Temasek International CEO Dilhan Pillay Sandrasegara will succeed Ho as Temasek Holdings CEO and retain his current role.
Paying tribute to Ho and wishing her well in her retirement in a separate statement, Chairman of Temasek Holdings Lim Boon Heng said Temasek is a “changed organisation” from the one Ho joined in 2002, and “for the better”.
Under her leadership, Temasek’s net portfolio value had increased from S$90 billion at the time of her appointment to S$381 billion as at the last reporting date.
“Ho Ching has inspired in all of us the importance of doing well, doing right and doing good. Under her stewardship, with the growth of the portfolio, and its increased resilience, Temasek has clearly done well,” Lim said.
Ho has also instilled in the organisation a strong sense of values, underpinned by integrity, and her contribution to building foundations of good governance and sustainability will serve Temasek well, long into the future, Lim added.
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