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

Author

Date

Category

- 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:

https://theindependent.sg.sg/risk-taker-ho-ching-criticises-boeing-over-a-lack-of-balls/Follow us on Social Media

Send in your scoops to news@theindependent.sg 

- Advertisement -

‘Stop the double standards,’ says PAB rider after seeing LTA officers let off an errant rider

Singapore – “PAB (power-assisted bicycle) rider doing food delivery? You’d better just dress like you look like an Aunty because LTA (Land Transport Authority) will not issue you a ticket,” said a member of the public after witnessing the authorities let...

Leong Sze Hian faces backlash for crowdfunding, shares hate messages he received

  Singapore — Some of the wind has gone out of blogger Leong Sze Hian's crowdfunding campaign and he has been getting hate messages too. Mr Leong took only 11 days to raise the S$133,000 the High Court ordered him to pay as...

M’sian worker and sole breadwinner suffers a stroke and severe memory loss in SG; family with two young kids crowdfunds for S$100K

Singapore -- A 34-year-old Malaysian man who was working in Singapore lost his memory after collapsing from a stroke. He is the sole breadwinner for his family, and his wife and two young children are crowdfunding to pay his medical bills. In...
Follow us on Social Media

Send in your scoops to news@theindependent.sg 

Theindependent