28 Jun 2011
The Government of Singapore Investment Corporation (GIC) announces two changes following the resignation of Dr Tony Tan Keng Yam as GIC’s Deputy Chairman and Executive Director effective 1 July 2011.
1) Mr Lim Hng Kiang will be Acting Chairman of GIC Real Estate Pte Ltd. Mr Lim is currently a Director of the company.
2) Mr Ang Kong Hua will be Acting Chairman of GIC Special Investments Pte Ltd. Mr Ang is currently a Director of the company.
The position of Executive Director will not be filled immediately. 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 contributes towards the well-being of Singaporeans.
GIC also states that the plans for senior management succession and investment development, including its increased focus on the emerging markets, will continue without change.