The Singtel board has appointed Mr Lee Theng Kiat to the board as non-Executive Director and Chairman-designate with effect from 15 January 2020.
In a press release on Monday (16 December), the company stated that the Singtel board had conducted a search for a new chairman to succeed Mr Simon Israel, and found Mr Lee to be the best fit, given his industry, business and governance experience.
Mr Lee will assume the chairmanship at the conclusion of Singtel’s next AGM in July 2020, when Mr Israel retires after nine years at the helm.
Mr Lee is Chairman of Temasek International and concurrently Executive Director of parent company Temasek Holdings, Singtel’s largest shareholder. He has held a range of key positions in Temasek including Chief Executive Officer of Temasek International, a role he relinquished in March this year.
Prior to joining Temasek in 2012, Mr Lee was President and CEO of two of its subsidiaries, ST Telemedia Pte Ltd and STT Communications Ltd.
According to the company, Mr Lee will serve as a non-Executive, non-Independent Director of Singtel. He is not a nominee of the Group’s largest shareholder, Temasek Holdings.
Mr Israel, who has been on the Singtel board since 2003, serving as Chairman since 2011, said, “Theng Kiat’s impeccable corporate governance and leadership credentials will benefit Singtel as it charts its way forward in the new economy.”
“His extensive experience in mobile communications and data services from his ST Telemedia tenure when it expanded its footprint in Asia Pacific, the Americas and Europe, will also prove instructive,” he added.