Seatrade-Maritime: PSA and Temasek veteran lined up as next chief of PIL

Published by Seatrade-Maritime

Singapore’s Pacific International Lines (PIL) has announced the appointment of Wan Chee Foong as Deputy CEO from 5 October to succeed current chief Lars Kastrup from April 2027.

Wan, is currently Managing Director, Corporate Strategy at Temasek Holdings, PIL’s majority shareholder through Heliconia Capital Management. He previously held top management posisition at terminal operator PSA including Regional CEO for the Middle East and South Asia, Head of Group Business & Commercial Development and CEO at PSA BDP. Wan was a member of PSA International’s Senior Management Council from 2014 to 2025.

Prior to joining PSA he spent nine years at Temasek from 2003 to 2012 in transportation and logistics, including supporting the establishment of SeaTown Holdings.

Previously owned by the Teo family PIL was rescued by Temasek in 2020 after it ran into financial difficulties. Current CEO Kastrup joined the company in July 2020 as Senior Advisor and later became Co-President and Executive Director in March 2021, and CEO in July 2022.

Kastrup commented: “When I took on this role, I was entrusted with a company founded by the Teo family in 1967, carried forward by generations of colleagues, and backed today by shareholders committed to its next chapter. My objective was to build the resilience, discipline and capability to perform through industry cycles. Thanks to a supportive Board, our colleagues on shore and at sea, and our partners, PIL stands today with a renewed fleet, a largely owned agency network, a strong balance sheet and the trust of customers.

“With that foundation in place, this is the right time to hand over. Chee Foong brings the experience and judgement to take PIL into its next chapter, and the ships we ordered will arrive on his watch.”

Under Kastrup’s leadership PIL has grown its capacity by over 50% to 500,000 teu. The company has 18 LNG dual-fuel newbuilds on order and 14 long-term charter vessels are due for delivery through 2029, and these are designed to replace up to half the existing fleet over the next five years.

Andrew M Lim, Chairman of PIL’s Nomination and Remuneration Committee and Independent Director, said: “Lars has guided PIL through an important period with steadiness, clarity and resolve. The company is stronger today — in its financial position, its fleet, its network and, importantly, in the quality of its leadership team and culture. That strength makes this the right time to put in place a carefully planned succession.”

The company said it consider internal and external candidates globally for the CEO role.

Wan, commented: “I am honoured by the Board’s trust and excited to build on the strong platform Lars and the PIL team have established. My immediate focus is to ensure a smooth handover, while working with colleagues, customers and partners to deepen PIL’s network, strengthen customer trust and build its next chapter as Singapore’s premier global shipping company.”