The Government of Singapore Investment Corp (GIC) has announced two interim appointments to fill the position vacated by GIC Executive Director Tony Tan, who resigned to run for president.
However, GIC noted that it will not rush to fill the senior position, as the state investment firm looks for a suitable replacement.
“The position of executive director will not be filled immediately,” it said.
“GIC will look for a suitable candidate who has the requisite knowledge and experience, and also a clear appreciation of how the financial reserves under GIC management contribute towards the well-being of Singaporeans.”
GIC has appointed Trade and Industry Minister Lim Hng Kiang as the acting chairman of GIC Real Estate, the firm’s property investment arm, and Sembcorp Industries Chairman Ang Kong Hua as the acting chairman of GIC Special Investments. Both are currently serving as directors of the GIC and their respective GIC units.
Last week, Dr Tan said he would be resigning as GIC Executive Director and Deputy Chairman to run in the upcoming presidential election. His resignation will take effect on 1 July.
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