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Ho Ching will be stepping down as chief executive officer of Temasek Holdings on Friday, Oct. 1, 2021.

She will also be retiring from the company's board, according to Temasek's statement on Feb. 9 earlier this year.

Dilhan Pillay Sandrasegara to take over

Dilhan Pillay Sandrasegara will succeed Ho as CEO and executive director on the same day.

He is currently chief executive of Temasek International, which oversees Temasek’s investments.

Dilhan first joined Temasek in September 2010, and has held various leadership roles.

These include head of investment, portfolio management, and enterprise development groups. He has also led various market teams including Singapore, the U.S., 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.

In the Feb. 9 press statement, Lim Boon Heng, Temasek’s chairman, said:

“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.”

Feels “relaxed” about retiring from her role

Ho said in a media briefing on Feb. 9 that she felt “relaxed” about announcing her retirement, reported The Straits Times.

She also said she had not planned her post-Temasek plans, and would “think about what’s next after Oct. 1".

Ho, who is also Prime Minister Lee Hsien Loong’s wife, first joined Temasek Holdings in 2002, and was appointed CEO in 2004.

Since then, Temasek’s portfolio has grown from S$90 billion in 2004 to over S$300 billion, according to the company’s press statement.

Lim paid tribute to Ho in the statement:

“[T]he Board wishes to recognise that she has led Temasek through a remarkable period of transformation. We have evolved from a relatively passive owner of the shares in former government-owned companies in Singapore to a globally-recognised and respected investor, forward looking institution and trusted steward.”

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Top photos via Temasek Holdings and Temasek/FB