Temasek Holdings (TMSK) Pte, Singapore’s state-owned investment company, said it appointed Lee Theng Kiat, head of its Singapore Technologies Telemedia Pte unit, as president and general counsel, effective April 1.
“As general counsel of Temasek he will be a key member of our senior leadership, both in our portfolio and investment decisions, and in developing our bench strength for the future,” Temasek said in an e-mailed statement today.
Lee, 59, will be the third president after John Cryan, president of Europe, and Gregory Curl, who is currently the president and head of Latin America.
Temasek has faced changes at the top since the middle of 2009, when it parted ways with former BHP Billiton Ltd. (BHP) head Charles “Chip” Goodyear, who was going to replace Ho Ching as the chief executive officer, over differences in strategy. Simon Israel, also a former Temasek executive director and president, retired from his executive and board roles in July, while former president Hsieh Fu Hua stepped down in October.
The firm, which managed S$193 billion ($153 billion) as of March 31, 2011, named Hsieh as president in 2010, along with Israel and Curl, once a candidate for CEO of Bank of America Corp.
“Lee Theng Kiat has been a general counsel in his early career, and brings with him many years of cross border investment and business experience,” Temasek said in today’s statement.
Lee worked in Singapore’s legal services for eight years before joining Singapore Technologies (STE) Pte, according to ST Telemedia’s website. Under his helm at ST Telemedia, the firm expanded in Asia, the Americas and Europe.
ST Telemedia owns stakes in technology and telecommunications firms including Eircom Group Ltd., Ireland’s biggest phone company, and StarHub Ltd. (STH) in Singapore.
To contact the reporter on this story: Andrea Tan in Singapore at email@example.com
To contact the editor responsible for this story: Linus Chua at firstname.lastname@example.org