The Monetary Authority of Singapore's chairman Lawrence Wong will succeed Lee Hsien Loong as the leader of the People’s Action Party.
Lawrence Wong will succeed Lee Hsien Loong as the leader of Singapore’s longstanding ruling party, the People’s Action Party, according to a «CNA» video of speech announcing the handover. Wong is scheduled to take over on November 21 next year before the city-state’s general elections.
The 71-year old Lee was planning to transfer leadership before his 70th birthday but the move was delayed due to the Covid pandemic. The son of Singapore’s founding father Lee Kuan Yew has served as the Prime Minister since 2004.
Financial Veteran
Wong is a financial veteran within the public sector, in addition to his role as Deputy Prime Minister. He is concurrently holding the role of Finance Minister and was named chairman of the Monetary Authority of Singapore in July as well as deputy chairman of GIC in September.
«I have full confidence in Lawrence and his team and there's no reason to delay their political transition. Therefore, I intend to hand over to DPM Lawrence before the next general election,» Lee said at the PAP's annual conference.
