Home News Featured News "Pre-election stunt?" - Netizens question the "musical chairs" at Temasek subsidiary

“Pre-election stunt?” – Netizens question the “musical chairs” at Temasek subsidiary

Netizens responding to the latest shake-up in the subsidiary have wondered what prompted the changes since Ho Ching's continued role as CEO of Temasek ensures that she still has a sufficient reign over the subsidiary despite the fact that she is no longer chairman




- Advertisement -

Temasek International announced on Tuesday (19 Mar) that Singapore Prime Minister’s wife, Ho Ching, will step down as its chairman next month and will be replaced by the organisation’s chief executive Lee Theng Kiat. Lee Theng Kiat’s role will be filled by Dilhan Pillay Sandrasegara.

Temasek International is a subsidiary of Singapore’s sovereign wealth fund, Temasek. Despite her departure from Temasek International as chairman, 65-year-old Ho Ching remains very much in charge of Temasek.

Ho Ching has been at the helm of Temasek for a decade and a half. She joined the organization as a director in Jan 2002 before she was promoted to executive director just four months later, in May. Two years after she joined Temasek, Ho Ching became its Chief Executive Officer on 1 January 2004 – a role she has held for the past 15 years.

Interestingly, 2019 also marks a decade since a leadership succession plan infamously failed at Temasek.

- Advertisement -

In 2009, just five years after Ho Ching took over as Temasek CEO, public sentiment against her was so high that she was due to be replaced as CEO. Succession plans for a new CEO to replace Ho Ching were underway but abruptly fell through in a boardroom bust-up in 2009 – just three months before the new CEO was supposed to take over.

A decade has gone by since then and Ho Ching remains the CEO of Temasek, with no public signs of leadership renewal in sight.

Although the latest round of changes in leadership at Temasek International may lead some to believe that changes are occurring within Temasek, Ho Ching continued role as CEO of Temasek – the parent company of Temasek International – ensures that she still has sufficient oversight over the subsidiary despite the fact that she is no longer chairman.

Netizens responding to the latest shake-up in the subsidiary have wondered what prompted the changes.

Some wondered whether the changes are an “election gimmick” or “pre-election stunt,” since many expect that the next General Election may be called as early as this year. Others criticised the headlines by mainstream media outlets covering the changes at the Temasek subsidiary since it made it seem like Ho Ching was leaving Temasek completely:


Send in your scoop to news@theindependent.sg 

- Advertisement -

Almost 8 out of 10 vote PN can’t survive GE 15 without UMNO

Almost eight out of 10 respondents on a Twitter survey voted that Bersatu will not survive GE-15 without UMNO, according to BFM radio survey held this morning (22/2/2021) during its Morning Run programme. Of the 206 voters (respondents) in the final countdown,...

Foodpanda rider called “Blur Sotong” by netizen

Singapore — A Foodpanda rider shared his unfortunate experience with a customer. He took to Facebook on Saturday morning (Feb 20), sharing screenshots of the conversation. Posted by Chan Okada SJ on Friday, 19 February 2021 The rider shared that the customer had asked...

Journalist claims Karen Mok is the only woman Stephen Chow has ever thought of marrying

Hong Kong -- Last year, comedian Stephen Chow's public and ugly legal battle with his former girlfriend over their finances gave a rare peek into the personal life of the fiercely private 58-year-old. It was reported that out of all the women...

Send in your scoop to news@theindependent.sg