Lawrence Wong to succeed Tharman Shanmugaratnam as MAS Chairman
Minister of Trade and Industry Gan Kim Yong will be appointed the new Deputy Chairman of MAS.
SINGAPORE — Deputy Prime Minister and Minister for Finance Lawrence Wong will be appointed as the new Chairman of the Monetary Authority of Singapore (MAS) Board of Directors with effect from 8 July 2023 to 31 May 2026, said MAS in an announcement on Monday (3 July).
In addition, MAS also announced that Minister for Trade and Industry Gan Kim Yong will succeed Wong as the Deputy Chairman of MAS, in addition to being appointed to the MAS Board for the period of 8 July 2023 to 31 May 2026.
Wong has been the Deputy Chairman of MAS since 1 June 2021 and has previously served as a member of the MAS Board from June 2011 to August 2016.
Wong's appointment as the new Chairman of MAS comes after the incumbent, Senior Minister and Coordinating Minister for Social Policies Tharman Shanmugaratnam, announced that he will relinquish the position in order to contest as a candidate in the upcoming presidential election.
Tharman has served as Chairman of MAS for 12 years since May 2011 and will step down from the position on 8 July 2023.
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MAS Board of Directors
Here is the full list of MAS Board of Directors and their respective positions, with effect from 8 July 2023:
Chairman: Lawrence Wong, Deputy Prime Minister and Minister for Finance
Deputy Chairman: Gan Kim Yong, Minister for Trade and Industry
Board Member: Heng Swee Keat, Deputy Prime Minister and Coordinating Minister for Economic Policies
Board Member: Alvin Tan, Minister of State, Ministry of Trade and Industry and Ministry of Culture, Community and Youth
Chairman of Risk Committee: Peter Ong, Chairman, Enterprise Singapore
Chairman of Audit Committee: Chaly Mah, Chairman, NetLink NBN Management Pte Ltd
Board Member: Lim Hng Kiang, Special Advisor, Ministry of Trade and Industry
Board Member: Professor Tan Chorh Chuan, Chief Health Scientist, Ministry of Health and Executive Director, MOH Office for Healthcare Transformation
Board Member: Lucien Wong, Attorney-General, Attorney-General’s Chambers
Board Member: Deborah Ong, Retired Partner, PricewaterhouseCoopers LLP
Board Member: Ng Wai King, Managing Partner, WongPartnership
Board Member: Ravi Menon, Managing Director, MAS
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