Splash247: Lars Kastrup stands down as PIL boss with Temasek exec lined up

Published by Splash247

Pacific International Lines (PIL) chief executive Lars Kastrup will step down next April, bringing to a close a tenure that has coincided with one of the most dramatic turnarounds in the Singapore liner’s history.

Wan Chee Foong, currently managing director, corporate strategy at Temasek International, will join PIL as deputy CEO on October 5 before succeeding Kastrup in April 2027. Kastrup will remain with the company as an adviser to the board.

Wan, 53, brings nearly three decades of transport and logistics experience. Before returning to Temasek, he held a string of senior roles at PSA International, including regional CEO for the Middle East and South Asia, head of group business and commercial development and CEO of PSA BDP. He sat on PSA’s senior management council from 2014 to 2025.

Kastrup, 67, first arrived at PIL in 2020 during the carrier’s financial crisis and was appointed co-president and executive director in 2021 after Temasek unit Heliconia Capital Management completed a $600m rescue of the company.  He became CEO in July 2022, having previously led APL and held senior roles at CMA CGM and AP Moller-Maersk.

Under Kastrup, PIL moved from restructuring to fleet renewal and expansion. Since 2022 the carrier has ordered a succession of LNG dual-fuel ships, while also pushing further into intermodal services and digitalisation. 

The handover also marks a closer link with Temasek, whose Heliconia vehicle remains PIL’s majority shareholder.

PIL said the succession followed a global search involving both internal and external candidates.