SINGAPORE – Temasek chairman Lim Boon Heng oversaw key changes during his tenure, including a board renewal, leadership transition and development of the state investor’s long-term strategy.

Appointed chairman in 2013, he will step down from his role in October. He will be succeeded by former senior minister Teo Chee Hean, who will join Temasek’s board as deputy chairman on July 1, before taking the helm in October.

Here is what Temasek achieved during Mr Lim’s tenure:

Growth as an international investor

It expanded its global advisory network, supplementing its Temasek International Panel with three regional panels – the Temasek European Advisory Panel and the Temasek Americas Advisory Panel in 2016, as well as the Temasek South-east Asia Advisory Panel in 2023.

Mr Lim, a former minister in the Prime Minister’s Office and secretary-general of the National Trades Union Congress from 1993 to 2006, oversaw the Temasek board’s renewal process, including increasing its international representation.

He also oversaw Temasek’s leadership transition in 2021, when Ms Ho Ching stepped down as executive director and chief executive.

Shaped Temasek’s purpose, charter and T2030 strategy

Under Mr Lim’s leadership, Temasek launched its “T2030” strategy in 2019 to build a resilient and forward-looking portfolio, and refreshed its Charter in 2024 to reaffirm its commitment to sustainable long-term returns.

Mr Lim articulated Temasek’s Purpose statement – So Every Generation Prospers – in 2021, strengthening the company’s organisational alignment and direction. 

Recognised for high standards of corporate governance and sustainability

Temasek was ranked first in the Global Sovereign Wealth Fund’s governance, sustainability and resilience scoreboard in 2023 and 2024.

Temasek expanded its sustainability initiatives during his tenure, including the annual Ecosperity conference which has been held since 2014, and...