SINGAPORE — Temasek is undertaking its largest restructuring in decades, including shifts in executive leadership. Png Chin Yee will step down as Temasek's Chief Financial Officer (CFO) in October and will transition to become president of Temasek Singapore.

Wendy Koh, currently the group CFO at Mapletree, a real estate group owned by Temasek, will assume the role of CFO-designate for Temasek on August 1. She will fully take on the CFO position on October 1. Png, who joined Temasek in 2011, became its CFO in January 2023, succeeding Leong Wai Leng. She previously held roles including head of financial services and senior managing director for China investments at Temasek.

As president of Temasek Singapore, Png will oversee investments in large homegrown companies such as DBS, Singapore Airlines, Singtel, and Seatrium. These companies collectively employ more than 160,000 individuals in Singapore and generate about 200 billion Singapore dollars in revenue. Png has appeared on the Fortune Most Powerful Women list for three consecutive years, including being ranked No. 77 in the current year.

In April, Temasek reorganized its operations into three distinct entities: global direct investments; Singapore-based Temasek portfolio companies (TPCs); and partnerships, funds, and asset management companies (PFAs). As of last March, Singapore-based companies made up 41% of Temasek's holdings, while global direct investments made up 36%, and PFAs accounted for 23%. Temasek reported a net portfolio value of 434 billion Singapore dollars ($342 billion) in 2025.

The company aims to rebalance its portfolio, targeting approximately 40% in global direct investments, 40% in Singapore-based portfolio companies, and about 20% in funds and asset managers. Temasek CEO Dilhan Pillay addressed the changes during a 2025 press conference. "The rules-based order that we've been used to, that we've been able to rely upon as an investment firm … is changing," Pillay said. He added, "The United States has got a very clear objective of 'America first,' and other countries are now trying to figure out how to operate within that framework."

Png helped found the Temasek Women's Network. In a 2024 interview, Png said, "When we invest, we try to do it responsibly. And when we divest, we ensure we do that responsibly as well." She also stated, "You want to make sure that the employees, customers, and even the minority shareholders are taken care of."