Ho Ching Steps Down as Temasek CEO, Ascends to Chair of Temasek Trust
On October 1, 2023, 68‑year‑old Ho Ching bid farewell to her role as CEO of Singapore’s financial powerhouse, Temasek Holdings, and took the reins as chairman of its philanthropic arm, Temasek Trust. As if the transition weren’t exciting enough, the move comes on the same day she’ll gladly leave the board of Temasek Holdings.
New Faces on Temasek Holdings Board
- Ajay Banga – seasoned Mastercard chairman, officially joins on Friday, October 6, 2023.
- Jenny Lee – veteran from GGV Capital, comes on board as of January 1, 2024.
These appointments fit neatly into a broader “transition wave” that follows the retirements of Goh Yew Lin, Mas Ho, and Robert Ng earlier this month. Temasek hinted that more fresh talent will arrive in the coming months.
Meet the Upcoming Trustee Trio
- Benny Lim
- Teo Ming Kian
- Tow Heng Tan
All three new trustees will take up their roles on January 1, 2024, stepping into a Trust that has been steering Temasek’s charitable giving since 2007.
Ho Ching’s Back‑to‑Front Vision
“I’m honored to join the Trust’s board,” Ho said, “and I foresee huge opportunities as it scales. Temasek Trust’s growth over the past decade has fueled vital programmes across Singapore and Asia.”
She lauded Mr S. Dhanabalan’s stewardship, noting his knack for cementing Temasek Trust as a credible, sustainable philanthropy platform.
Sound Bites from New Directors
- Ajay Banga – “We’re excited to bring global expertise to guide Temasek into the next decade.”
- Jenny Lee – “My background in venture capital gives me a fresh perspective on the board.”
What’s Next for Temasek Trust?
With Ho Ching at the helm, the Trust aims to elevate its governance and support its beneficiaries, including the Temasek Foundation and Temasek Life Sciences Laboratory.
Stay tuned – more board changes are expected to unfold, and Temasek will announce them as they’re finalized.
