Singapore, Thursday, 26 December 2024 – Temasek Holdings is pleased to announce new appointments to its Board of Directors.

Mr Jim Hagemann Snabe and Mr Ong Pang Thye will join Temasek’s Board with effect from 1 January 2025. Both are senior business leaders with extensive industry experience and track record from the private sector. They will join current members of the Board to provide overall strategic guidance to the management.

Mr Snabe is Chair of the Supervisory Board of Siemens AG, a Board Member at C3.ai and a member of the Board of Trustees at the World Economic Forum. He is also Advisor at Deutsche Bank AG. He was previously Chair of A.P. Moller Maersk and Vice Chair of Allianz SE. He has been a member of Temasek European Advisory Panel since 2018. Mr Snabe’s professional journey includes a 25-plus year career in the IT industry, primarily with SAP AG where he last served as Co-Chief Executive Officer from 2010 to 2014. In his capacity as a global business leader, Mr Snabe is involved in a number of activities focused on societal progress and the role of business in society.

Mr Ong has more than 30 years of experience in accounting, auditing, and consulting, working with companies in various industries such as Banking, Asset Management, Infrastructure, Media, and Real Estate. He was the former Managing Partner of KPMG in Singapore from 2016 to 2023 and a Board member of KPMG International Limited. Prior to this, he was previously the Head of Audit practice in Singapore and was KPMG’s Head of Accounting Advisory Services for KPMG in Asia Pacific. Mr Ong currently serves as Vice Chairman in the Singapore Business Federation and on the board of SP Group. He is Chairman of the Audit Committee for the Ministry of Home Affairs’ Home Team Science and Technology Agency and a member of the Business School Management Advisory Board of the National University of Singapore.

Announcing the appointments today, Temasek Holdings Chairman, Mr Lim Boon Heng, said the Board would benefit from the experience and insights of its new members.

"Jim and Pang Thye are both recognised leaders in their fields and professions. Jim’s leadership in innovation and digitisation, combined with Pang Thye’s deep domain expertise in navigating risk and governance issues, will complement the Board and help Temasek in achieving its portfolio and institutional priorities. We look forward to their contributions as members of our Board," Mr Lim said.

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About Temasek

Temasek is a global investment company headquartered in Singapore, with a net portfolio value of S$389 billion (US$288b, €267b, £228b, RMB2.08t) as at 31 March 2024. Marking our unlisted assets to market would provide S$31 billion (US$23b, €21b, £18b, RMB166b) of value uplift and bring our mark to market net portfolio value to S$420 billion (US$311b, €289b, £247b, RMB2.25t).

Our Purpose “So Every Generation Prospers” guides us to make a difference for today’s and future generations.

Operating on commercial principles, we seek to deliver sustainable returns over the long term. 

We have 13 offices in 9 countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia; and Brussels, London, Mexico City, New York, Paris, San Francisco, and Washington, DC outside Asia.  

About Mr Jim Hagemann Snabe

Mr Jim Hagemann Snabe is Chair of the Supervisory Board of Siemens AG, a Board Member at C3.ai and a member of the Board of Trustees at the World Economic Forum. He is also Advisor at Deutsche Bank AG. He was previously Chair of A.P. Moller Maersk and Vice Chair of Allianz SE. He has been a member of Temasek European Advisory Panel since 2018.

Mr Snabe is the former co-CEO of SAP AG and has 25+ years of experience in the IT industry. He is focused on leadership around innovation and digitisation. In his capacity as a global business leader, Mr Snabe is involved in a number of activities focused on societal progress and the role of business in society. He is also the author of two books; “Dreams and Details” which explores a new leadership model, and “Tech for Life” focused on the responsible use of technology.

Mr Snabe holds a Master of Science in Economics and Business Administration, Operational Research and Finance from Aarhus University, Denmark, 1989. He is an Adjunct Professor at the Copenhagen Business School since 2016.

About Mr Ong Pang Thye

Mr Ong Pang Thye was the former Managing Partner of KPMG in Singapore from 1 Oct 2016 to 30 Sep 2023 and a Board member of KPMG International Limited.

Prior to this, Mr Ong was the Deputy Managing Partner and held various leadership roles within the firm and the global network. He headed the Audit practice in Singapore and was previously KPMG’s Head of Accounting Advisory Services in Asia Pacific. He has 30 years of experience in accounting, auditing and consulting, working with companies in various industries such as Banking, Asset Management, Infrastructure, Media, and Real Estate.

Mr Ong currently serves on the board of Singapore Power Limited. He is a member of the Business School Management Advisory Board of the National University of Singapore and serves on the Board of Directors for Singapore’s Ministry of Home Affairs’ Home Team Science and Technology Agency. He is Vice Chairman and a Council Member of the Singapore Business Federation and Independent Panel Member of Aljunied-Hougang Town Council.

Mr Ong received his Bachelor of Accountancy from the National University of Singapore.