Temasek Holdings announced that Mr Teo Chee Hean will join its Board of Directors as Deputy Chairman on 1 July 2025, and succeed Mr Lim Boon Heng, to become its fifth Chairman, on 9 October 2025, after the conclusion of its third-quarter Board meeting this year.
As part of Temasek’s Board renewal process, Mr Cheng Wai Keung, Deputy Chairman, and Mr Stephen Lee, Director, will retire from the Board on 30 June 2025 after nearly 14 years and 8 years of service respectively. Mr Bobby Chin, Director, will also retire on 31 July 2025 after serving for 11 years.
Mr Teo Chee Hean is a former political stalwart whose leadership has advanced Singapore’s interests, including in critical areas like geopolitics, cybersecurity and technology, climate action, as well as defence and security.
During his distinguished 53-year career in public service, he navigated complex challenges both in Singapore and abroad.
In a rapidly changing world, his wealth of experience and strategic insights will bring valuable perspectives to Temasek as it continues to evolve and grow as a global investment company, Temasek said.
Mr Teo was a core member of Singapore’s third-generation political leadership team. He served as Deputy Prime Minister from 2009 to 2019, and as Senior Minister from 2019 until his retirement from politics in May 2025.
Since 2011, he also held the role of Coordinating Minister for National Security, where he oversaw a broad portfolio including the Smart Nation and Digital Government Group, the National Security Coordination Secretariat, the National Population and Talent Division, and the National Climate Change Secretariat in the Prime Minister’s Office.
Throughout his tenure, Mr Teo championed whole-of-government approaches to address complex, cross-cutting challenges such as population dynamics and climate change.
Under his leadership, Singapore formulated pragmatic and ambitious decarbonisation and net-zero targets.
As Chairman of the Inter-Ministerial Committee on Climate Change, he played a pivotal role in launching the National Climate Change Strategy in 2012 and the Climate Action Plan in 2016. He also led efforts to introduce Singapore’s carbon tax in 2019, incentivising businesses to reduce emissions and adopt sustainable practices.
As Coordinating Minister for National Security, Mr Teo strengthened Singapore’s internal and external security strategies.
He was instrumental in establishing the Cyber Security Agency of Singapore (CSA) in 2015, a key initiative in safeguarding the nation’s digital infrastructure.
During his term as Minister for Defence from 2003 to 2011, Mr Teo led Singapore’s defence diplomacy efforts and played a central role in developing the Shangri-La Dialogue into the Asia-Pacific’s premier defence forum.
He was pivotal in modernising the Singapore Armed Forces (SAF), overseeing the acquisition of advanced systems and the integration of land, sea, and air capabilities into a networked, third-generation fighting force.
From 2011 to 2015, Mr Teo also served as Minister for Home Affairs. In this role, he enhanced civil defence and internal security capabilities in response to evolving regional threats. He championed the use of technology to transform the Home Team’s operational readiness and emergency response systems.
Mr Teo Chee Hean will join Temasek’s Board on 1 July.
Mr Teo Chee Hean said:
“I would like to thank Mr Lim Boon Heng, Mr Cheng Wai Keung, Mr Stephen Lee and Mr Bobby Chin for their long, distinguished and invaluable service to Temasek.
In this era of deepening global uncertainty, we must remain clear minded on critical matters such as international relations, security, and climate change. As a key Singapore institution with a global investment footprint, Temasek understands that its long-term success requires both addressing today’s risks and opportunities and anticipating tomorrow’s trends.”
He added, “I look forward to working with Temasek’s Board, management team and members of the wider Temasek family to build on the achievements of Temasek and chart a path for its continued success in the new global environment.”
Mr Dilhan Pillay Sandrasegara, Temasek Executive Director and CEO, welcomes Mr Teo as their fifth chairman.
He said Mr Teo’s remarkable public service career across multiple domains speaks for itself.
“We are privileged that Temasek can benefit from his perspectives and extensive experiences, and we look forward to his stewardship as we navigate the opportunities and challenges ahead.”
