Ho Ching will be retiring as the chief executive officer of Temasek Holdings and step down from the company's board on Oct. 1, according to the company's statement on Tuesday (Feb. 9).

Ho Ching to retire

Dilhan Pillay Sandrasegara will succeed her as Executive Director and Chief Executive Officer of Temasek Holdings with effect from Oct. 1.

He will concurrently hold his current appointment as Chief Executive Officer of Temasek International (TI).

Ho, who first joined Temasek Holdings in 2002, will step down as CEO and the company's board from Oct. 1.

Announcing the change today, Lim Boon Heng, Chairman of Temasek Holdings, noted: "Leadership succession is a strategic responsibility of the Board. We have had in place an annual review since the early 2000s. This is to enable the Board to be prepared for all eventualities, with various succession options over different time horizons."

Dilhan Pillay Sandrasegara to take over

Dilhan first joined Temasek in September 2010, and has held various leadership roles, including as the Head of Investment, Portfolio Management, and Enterprise Development Groups. He has also led various market teams including Singapore, the US and Americas.

Prior to Temasek, Dilhan was the Managing Partner of Wong Partnership LLP, one of the largest law firms in Singapore. He practised law for over 20 years in the areas of mergers and acquisitions, corporate governance and general corporate law.

"As CEO of Temasek Holdings, Dilhan will have the responsibility for the Stewardship role of Temasek, particularly in respect of Temasek’s Constitutional responsibilities to safeguard its own past reserves, as a Fifth Schedule entity. The Board looks forward to working with him, as the owner of those responsibilities, and will support him and his team in whatever ways needed," Lim said in the company's press statement.

Lim also paid tribute to Ho Ching in the statement:

"It is hard to call out Ho Ching’s many achievements, and there will be more time to do so before she retires later in the year. Perhaps above all else, Ho Ching will be recognised for her unwavering commitment to build Temasek as a trusted steward, committed to the highest standards of integrity and governance.

She has laid out and consistently applied the standards we expect of companies, and of ourselves as an owner."

He also thanked her on behalf of the board.

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Top image via Temasek/FB