<article>Temasek Holdings has made two new appointments to its board of directors.</article>

Temasek Holdings has made two new appointments to its board of directors.
According to a statement on Wednesday, Jaime Augusto Zobel de Ayala, chairman of Ayala Corporation, and Tan Chee Meng, deputy chairman of law firm WongPartnership, will join Temasek&#8217;s board on 1 January 2022.
This follows the appointments of two other board directors, Ajay Banga, executive chairman at Mastercard, and <a href="https://www.dealstreetasia.com/stories/temasek-jenny-lee-ggv-capital-264915/">Jenny Lee, managing partner at GGV Capital</a>, in recent weeks. Banga joined on 1 October 2021, while Lee joins 1 January 2022.
Temasek chairman Lim Boon Heng said the Singapore state investor would benefit from the skills and experience of its new members.
“Jaime and Chee Meng are pre-eminent leaders in their fields and professions. Beyond their professional areas, they are both deeply committed to their communities, which is important to Temasek given our wider stewardship role. Together with Jenny, who joins the board on the same day, we look forward to the contribution each of these leaders will make to the future development of our firm,” Lim said.
Ayala Corporation is one of the largest family-owned conglomerates in the Philippines. Zobel served as the chairman and CEO of the group from April 2006 to 2021.
He is also a member of multiple business and civic organisations including the JP Morgan International Council, the JP Morgan Asia Pacific Council, the Mitsubishi Corporation International Advisory Council, LeapFrog Investments’ Global Leadership Council and the board of the Singapore Management University (SMU).
WongPartnership is one of Singapore’s largest law firms. Tan also serves as a director at Ausnet Services Limited. He was the first specialist judge appointed in Singapore in 2006. His specialities cover general civil litigation, construction and engineering dispute resolution, criminal law, insurance and professional indemnity.
Temasek, which has offices in nine countries around the world, has a net portfolio value of about $238 billion as of March 31, 2021. Its board provides overall guidance and policy directions to management.
The state investment firm operates on a commercial basis, with the added constitutional responsibility of protecting its past reserves. Temasek’s annual board schedule includes quarterly two-day meetings, and additional meetings as needed, for significant large investments.
Some of the notable Temasek-backed companies that went public last year include Airbnb, which raised $3.5 billion in the largest US IPO of 2020, a year that was otherwise reeling from the adversities of the COVID-19 pandemic. Temasek had invested in Airbnb in 2015 in a deal that valued it at just $25.5 billion. Today, the company is valued at over $100 billion.
In December 2020, food delivery firm DoorDash Inc, another Temasek portfolio company, raised $3.37 billion in its IPO, valuing the startup at $71.3 billion. Temasek had co-led DoorDash’s $400-million funding round in 2019.

The Ayala chairman and WongPartnership deputy chairman will join Temasek's board of directors on 1 Jan 2022.

Temasek appoints Ayala's Jaime Augusto Zobel and lawyer Tan Chee Meng to board

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Temasek appoints Ayala's Jaime Augusto Zobel and lawyer Tan Chee Meng to board

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Temasek names GGV Capital's Jenny Lee to board of directors