SINGAPORE: Singapore state investor Temasek Holdings welcomed on Wednesday the appointment of Bill Winters as Standard Chartered's new chief executive.
"We take this opportunity to welcome Bill Winters as the next CEO of Standard Chartered, to build on and grow its excellent franchise," Temasek said in a statement.
"He brings with him considerable experience as well as an excellent reputation for building good teams."
"This on-going process for board renewal must continue as the requirements and challenges facing the banking and financial sector across the world have become much more complex and onerous," Temasek added.
Temasek, which has a 17.7 percent stake in Standard Chartered, has been the bank's biggest investor since 2006.
People familiar with the matter had earlier told Reuters that Temasek was unhappy about the performance of its investment and had called for a succession plan for the CEO.
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