Temasek announces organisational changes

TEMASEK International has appointed Chia Song Hwee as deputy chief executive officer with effect from Jan 1, 2020, CEO Dilhan Pillay Sandrasegara announced on Friday.

Mr Pillay announced this along with several other appointments and changes to take effect the same day, saying: "The world in which we operate is becoming increasingly complex. We need to make sure our organisational structure gives us the clarity and robustness to deal with this complexity, while delivering on our strategic and institutional initiatives.

"These changes are a part of our journey, and change will be a constant on that journey. I expect our organisation structure to continue to evolve as we develop talent, build capabilities, tackle challenges and strengthen our portfolio."

Mr Pillay added that Temasek is committed to "bringing sustainability to the core of everything" it does, and will continue to work toward this goal with actions such as embedding its Environmental, Social, and Governance (ESG) framework into investment and portfolio management processes and halving its portfolio's carbon footprint by 2030.

Mr Chia is currently the chief operating officer of Temasek International, the investment and management arm of state investor Temasek Holdings. In his new role, he will work with Mr Pillay to drive strategic and institutional initiatives as well as oversee activities related to its portfolio, investments and technology.

The other changes announced were as follows:

Correction note: An earlier version of this story incorrectly stated the positions that Rohit Sipahimalani will hold after the changes are made. Temasek International has since corrected its announcement and said that he will only hold the positions of chief investment strategist and head of the South-east Asia office. The article above has been revised to reflect this.