Goodyear in after bad year at Temasek

Chip Goodyear, a former chief executive at BHP Billiton, a mining company, is to replace Ho Ching, the wife of Singapore's prime minister, as chief executive of Temasek, the city state's sovereign wealth fund.

Ho steps down after five years in charge.

She presided over the fund's best set of results last year. However, the fund is likely to have has fared less well in the current financial year, which ends on 31 March. Temasek became the largest shareholder in Merrill Lynch, a now defunct

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