Temasek Holding's president quits

But Hsieh Fu Hua will remain on the group’s board of directors.

Temasek Holdings President Hsieh Fu Hua has stepped down from his executive position at the Singapore state investment firm, a spokesman for the group said Wednesday, the latest in a series of management changes at the firm.

Hsieh, who was formerly chief executive of Singapore Exchange Ltd., will step down from the position of president due to "personal priorities," the spokesman said.

However, he will maintain his position on Temasek's board of directors and his respective chairman's positions on the group's Fullerton Funds Management, ST Asset Management and the Temasek-supported Stewardship & Corporate Governance Centre.

Hsieh was one of three presidents appointed in August last year tasked with the role of helping Temasek Chief Executive Ho Ching to support and develop the group's leadership team.
Of the three presidents, former Bank of America executive Gregory Curl remains the only president in the firm's executive.

The other president, Simon Israel--who joined Temasek's board in 2005 and its executive leadership in 2006--retired in July and has since been appointed chairman of Singapore Telecommunications Ltd.

View the full story in The Wall Street Journal.