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Temasek Holdings appoints Mr Marcus Wallenberg to its Board

Singapore

Temasek Holdings (Private) Limited (“Temasek”) is pleased to announce the appointment of Swedish national, Mr Marcus Wallenberg as a member of the Temasek Board, with effect from 8 July 2008.

A well-recognised business leader with extensive experience across diverse industries, Mr Wallenberg, 51, chairs several major companies belonging to the network of the Swedish investment company Investor AB, including Skandinaviska Enskilda Banken (SEB), SAAB AB as well as AB Electrolux. He is also Deputy Chairman of L M Ericsson.

In addition, Mr Wallenberg most recently served as Chairman of the International Chamber of Commerce (ICC), a world business organisation with representation from global businesses, aimed at promoting cross border trade and investments. He also serves on the boards of Astra Zeneca, Stora Enso, Foundation Asset Management, and the Knut and Alice Wallenberg Foundation.

Commenting on the appointment, Temasek Chairman, Mr S Dhanabalan said, “We are very pleased to have Marcus join us on the Temasek Board. Marcus has not only distinguished himself in the international business community as a man of high integrity and an accomplished corporate leader, he has also contributed significantly to the promotion of international trade and investments across borders. I know him to be a thoughtful and balanced leader with deep knowledge and experience across a wide range of major businesses. The Board will benefit much from his active participation and contribution.”

Mr Wallenberg said, "I am delighted to be invited to join the Temasek Board. This gives me the added pleasure of deepening my friendships with Singapore and Asia, as well as the opportunity to work with a strong board and management team in Temasek. I believe Temasek serves as an excellent window to developments in a fast transforming Asia."

Mr Wallenberg holds a Bachelor of Science in Foreign Service from Georgetown University, Washington D.C. He began his career at Citibank in New York in 1980. This was followed by various positions at Deutsche Bank in Germany, S G Warburg Co Ltd in London and Citicorp in Hong Kong, before returning to Sweden to take up leadership roles within Investor AB. Mr Wallenberg served as President and CEO of Investor AB for 6 years.

With the appointment of Mr Marcus Wallenberg, the Temasek Board will comprise 9 members:

Mr S Dhanabalan (Chairman)
Mr Kwa Chong Seng (Deputy Chairman)
Mr Koh Boon Hwee
Mr Kua Hong Pak
Mr Goh Yew Lin
Mr Teo Ming Kian
Mr Marcus Wallenberg
Mr Simon Israel (Executive Director)
Ms Ho Ching (Executive Director & CEO)

 

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About Temasek Holdings

Incorporated in 1974, Temasek Holdings is a global investment firm headquartered in Singapore. Supported by affiliates and offices around the world, it holds and manages a diversified S$164 billion (US$108 billion) portfolio as at 31 March 2007, concentrated principally in Singapore, Asia and the OECD economies.

Temasek's investment strategies centre on four themes – Transforming Economies, Thriving Middle Class, Deepening Comparative Advantages and Emerging Champions – with its portfolio of companies coming from nine major sectors: financial services; telecommunications and media; transportation and logistics; real estate; infrastructure, industrial and engineering; energy and resources; technology; life sciences; and consumer and lifestyle.

Total shareholder return for Temasek since its inception in 1974 has been more than 18% compounded annually. It has a corporate credit rating of AAA/Aaa by rating agencies Standard & Poor's and Moody's respectively.

For further information on Temasek, please visit www.temasekholdings.com.sg.

 

For media enquiries, please contact:

Mark Lee
Director, Corporate Affairs
Temasek Holdings (Private) Limited
Tel: (65) 6828 6509
E-mail: marklee@temasek.com.sg