Png will step down as CFO in October to become president of Temasek Singapore, the unit responsible for some of the country’s most prominent portfolio companies, including DBS, Singapore Airlines, Singtel, and Seatrium. Wendy Koh, currently group CFO at Temasek-owned real estate group Mapletree, will succeed Png and will be named CFO-designate on Aug. 1 before fully assuming the role on Oct. 1.This year, Png was ranked No. 77 on the Fortune Most Powerful Women list, marking her third consecutive year on the ranking. The transition at Temasek will place two veteran women finance executives in influential leadership positions at a global investment organization overseeing hundreds of billions of dollars in assets. Women accounted for 21% of global incoming CFO appointments in 2025, according to Russell Reynolds Associates’ Global CFO Turnover Index, compared with 26% in 2024 and 14% in 2019.
The appointments come as Temasek undertakes a sweeping reorganization designed to navigate a more fragmented global investment environment and position the firm for its next phase of growth. In April, Temasek reorganized into three entities managing different portfolios: global direct investments; Singapore-based Temasek portfolio companies (TPCs); and partnerships, funds, and asset management companies (PFAs).
