Earlier in February this year, Singapore investment company Temasek Holdings announced that its chief executive officer will be retiring and stepping down from its Board on 1 October 2021.
She will be succeeded by Dilhan Pillay Sandrasegara, who will concurrently hold his current appointment as CEO of Temasek International (TI).
Today (Sept 30), it is reported that Ho Ching, 68, will take over as chairman of Temasek Trust from 1 April 2022.
She will be succeeding S Dhanabalan, who will remain on the board and be designated Chairman Emeritus.
She will also be appointed to Temasek Trust’s board of directors with effect from tomorrow, the same day she’s retiring from Temasek Holdings.
Established in 2007, Temasek Trust provides governance and financial oversight of the company’s philanthropic endowments that fund the work of designated beneficiaries.
Its beneficiaries include Temasek Foundation and Temasek Life Sciences Laboratory.
In a separate statement, Temasek also announced two new appointments to its board of directors today.
Mastercard executive chairman Ajay Banga’s appointment is effective tomorrow, while GGV Capital managing partner Jenny Lee will join the board on 1 January 2022.
Temasek said that the new appointments to its board continue a process of transition, following the recent retirement of director Goh Yew Lin and the upcoming retirements of Ho Ching and Robert Ng.
Dhanabalan, who has been chairman of Temasek Trust since September 2015, 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.”
In response, Ho Ching said she was honoured to be invited to join the board of Temasek Trust, and said she sees great opportunity for it to evolve its role given the scale it has reached.
“I am very impressed by the remarkable progress that Temasek Trust has made since its founding over 10 years ago. 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,” she said.