Temasek President and Executive Director to retire

Simon Israel, Executive Director and President, will retire from his executive and board roles in Temasek Effective 1 July.

According to Temasek, Simon has been a member of the Temasek Board since August 2005. He became an executive director and a key member of the Temasek senior leadership in July 2006, and assumed the role of President last year.

Both the Board and management deeply appreciate Simon's significant contributions to the evolution of Temasek as an international investor.

Said Mr Dhanabalan, Chairman of Temasek, "Simon has provided leadership to build and enhance the value of Temasek’s Singapore and international investments. He brought with him a wealth of experience and an incisive mind which added richness to our board deliberations. My Board and I are deeply grateful for his contributions and wish him well in his future endeavours."

Mr Israel said, "It has been a privilege to work with the Board and my colleagues at Temasek, and to play a part in its evolution as a global investor. Today, Temasek has in place a diverse team of talented people. I am confident they will continue to build on Temasek's reputation and strengths to create sustainable long term value for our various stakeholders.

As I have shared with Ho Ching periodically, it has been my wish for some time to retire from a full-time executive role. Now that we have a good team of very capable and committed people in place in Temasek, I feel it is as good a time as any for me to move on to a non-executive role."

Ms Ho Ching, Executive Director and CEO, added, "Simon has contributed significantly to the deepening of Temasek's capability and discipline as an active investor, both as an active and thoughtful board member and as a key member of the Temasek management leadership. He has played an invaluable role in the evolution and reshaping of Temasek as an active international investor and value-adding shareholder.

While we will miss Simon's direct and very active participation at Temasek, we are all very pleased that we will be able to continue to engage and spar with him albeit in a different role as he continues to serve in his own individual capacity on the boards of some of the key Temasek-linked companies."