PIL Names Temasek's Wan Chee Foong CEO, Lars Kastrup to Advise Board
Wan Chee Foong will become deputy CEO on October 5, 2026, before taking the top role in April 2027, succeeding Lars Kastrup at the Singapore shipping firm.
Leadership Transition at Pacific International Lines
Singapore-headquartered Pacific International Lines (PIL) has announced the appointment of Wan Chee Foong as its next Chief Executive Officer. Mr Wan, currently a managing director for corporate strategy at Temasek International, will join PIL as deputy CEO on October 5, 2026. He is slated to assume the CEO position in April 2027.
This transition follows an extensive search process by the shipping company. Current CEO Lars Kastrup, 67, will move into an advisory role for PIL’s board after stepping down from the top executive post.
Wan Chee Foong's Extensive Logistics Experience
Mr Wan, 53, brings broad experience across the port and logistics sectors. His career has largely developed within Singapore investment company Temasek and its portfolio entities. This includes roles at flag carrier Singapore Airlines and various positions at global port operator PSA International, where he served as regional CEO for the Middle East and South Asia.
He also headed PSA BDP, PSA International's global supply chain solutions business. Additionally, Mr Wan is an independent director for Bahri, Saudi Arabia's national shipping company.
Kastrup's Turnaround and PIL's Financial Performance
Lars Kastrup was instrumental in PIL's recovery from a financial crisis in 2020. Temasek's wholly-owned Heliconia Capital Management provided a US$600 million lifeline, acquiring a majority stake and transforming PIL into a professionally managed entity. Under Mr Kastrup’s leadership, PIL achieved sustained profitability.
The company expects its financial performance for the current fiscal year 2026 to surpass the net profit of approximately US$1 billion and revenue of around US$4.3 billion reported for fiscal year 2025. PIL’s capacity has also grown by over 50 per cent, reaching about 500,000 twenty-foot equivalent units (TEU).
PIL's strategic approach, including its agile fleet management and market development, will remain consistent under the new leadership, according to Mr Kastrup. He noted Mr Wan’s ability to deepen PIL’s partnerships with ports worldwide, ensuring competitive and efficient access.
This capability is critical for maintaining supply chain resilience amid increasing disruptions and port congestion. For Asian businesses reliant on shipping, this leadership change at a major regional carrier could translate into more stable and cost-effective logistics channels, supporting regional trade flows.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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