Former Deputy Prime Minister Teo Chee Hean is set to be Temasek Holdings’ next chairman in a major move to adjust the organization’s plans. Teo will take over the job on October 9, 2025, after Lim Boon Heng served for more than a decade. Temasek’s shift in leadership is happening when it must deal with difficult global investment settings that involve stress from political problems, the need for sustainability and the rise of digital trends. Being a respected figure in political and defense affairs in Singapore, Teo is expected to share a lot of experience and smart strategies with the ministerial team.
Teo Brings National Security and Global Diplomacy Experience to Temasek
Prior to becoming Chairman of Temasek, Teo Chee Hean is entering the board as Deputy Chairman on July 1 to secure the best succession strategy. For about a decade, he served as Deputy Prime Minister (2009–2019) and just recently held the position of Senior Minister until his political retirement in May 2025. Being Chief of the Navy for Teo gave him a unique advantage when dealing with domestic safety and international matters. Temasek stated that Teo’s achievements in cybersecurity, climate change, defense and regional diplomacy made him fit to lead since state-linked funds are being put under more scrutiny. Lawrence Wong, the Prime Minister, stated in a news release that Teo can link Temasek’s worldwide ambitions to what Singapore needs. Because of Teo’s leadership and commitment to serving the public, I trust he will help Temasek build long-term value and aid in national development, Wong added.
Lim Boon Heng’s Legacy: Global Expansion and Sustainable Growth
Since Lim became CEO in 2013, the portfolio invested by Temasek has nearly doubled, going from S$223 billion (US$173 billion) in 2014 to S$389 billion (US$303 billion) in 2024. During his 10 years as chairman, he made key investments and made sure the company was ready for future directions in the world economy.
Key highlights of Temasek’s evolution under Lim include:
- Strategic stakes in Alibaba and BlackRock.
- Divestment from legacy assets in Singapore and China to reallocate capital.
- Heavy focus on technology, healthcare, and green investments.
- Expansion of international offices, including six across Europe and the United States, out of a total of 13 global locations.
The Prime Minister commended Lim for turning Temasek into a prestigious global investment company that leaders in sustainability.
Board Restructuring Reflects Temasek’s Renewed Focus
Other changes among board members also take place during transitions of CEOs. Having served on the board for many years, both Cheng Wai Keung and Stephen Lee will leave by June 30 and Bobby Chin will depart on July 31. As a result of these changes, it appears that Temasek is preparing for the next stage of investing around the world and in Asia. Temasek has given more importance to ESG standards which means it now supports responsible investing across the globe. Experts believe that Temasek will gain an even better stance in sustainable investing thanks to Teo’s strong involvement in climate and cybersecurity policies as a minister.
Temasek is recognized in international finance thanks to its more than S$389 billion in assets and activities in major global markets. Appointing Teo Chee Hean as Singapore’s leader is viewed as a step to keep going forward and also better fit with future economic, environmental and security objectives. Because we are facing market changes, political shifts and eco-friendly demands, the way Teo is guiding Temasek might become the precedent for others around the world.
