Temasek Chairman to Step Down After 12 Years, Teo to Succeed

Lim Boon HengPhotographer: Paul Miller/Bloomberg

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By Lulu Yilun Chen

June 6, 2025 at 1:08 AM EDT

Updated on

June 6, 2025 at 2:04 AM EDT

Temasek Holdings Pte Chairman Lim Boon Heng is stepping down and will be succeeded by Teo Chee Hean, marking a significant shift in leadership at the Singapore state investor.

Teo will replace Lim on Oct. 9, Temasek said in a statement on Friday. As part of the change, Deputy Chairman Cheng Wai Keung and director Stephen Lee will leave the board on June 30. Director Bobby Chin will also retire on July 31.