Saturday, February 07, 2009

Temasek CEO Ho Ching to quit after rocky ride

From Reuters

Ho Ching will step down as chief executive of Singapore state investor Temasek after a five-year stint, following a period of turmoil in global markets that has slashed the value of its investments.

Chip Goodyear, the former chief executive of BHP Billiton, will replace Ho, the wife of Singapore Prime Minister Lee Hsien Loong, on Oct. 1 as the sovereign wealth fund tries to build a more international image and move more aggressively into resources.

Goodyear will be the first foreigner to run Temasek, the smaller of Singapore's two sovereign wealth funds.

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