SINGAPORE – Pacific International Lines (PIL), South-east Asia’s largest home-grown shipping firm, will have a new chief executive next year, with Wan Chee Foong set to succeed Lars Kastrup in April 2027.
Wan, 53, will join PIL as deputy CEO in October and work alongside Kastrup during the six-month transition, progressively taking on responsibility for the 59-year-old carrier’s commercial, operational and strategic priorities, the company said on Sept 22.
Kastrup, a 67-year-old shipping veteran, will subsequently step down to become an adviser to the board.
The leadership change follows PIL’s executive chairman Teo Siong Seng’s voluntary leave of absence in May, but the two developments are unconnected, Kastrup told The Straits Times.
Teo, who is also CEO and chairman of Hong Kong-based Singamas, stepped away from board duties at PIL and other organisations to address an indictment by the US Department of Justice.
He was one of the seven executives from shipping container manufacturing firms accused of a price-fixing conspiracy earlier this year.
Kastrup, with over 40 years of container shipping experience, said PIL’s board had decided to bring in a new CEO well before Teo went on leave.
“The six-month handover plan is to make sure everything happens very smoothly,” he said, adding: “The board has asked me to stay on as adviser to the board. So I’m still there in case they want to use my experience.”
Kastrup joined PIL in 2020 as senior adviser and later became co-president and executive director in 2021, and CEO the year after.
He is credited with restoring PIL’s financial standing after a difficult spell following the Covid-19 pandemic.
Kastrup noted that the container shipping line now has a renewed fleet, a largely owned agency network and a strong balance sheet.
“With that foundation in place, this is the right time to hand over. Chee Foong brings the experience and judgment to take PIL into its next chapter.”
Wan is currently managing director for corporate strategy at Temasek.
He brings nearly three decades of leadership across transportation, ports and logistics, spanning roles in operations, investment and strategy.
He started his career at Singapore Airlines before joining PSA International, where he held senior positions, including regional CEO for the Middle East and South Asia.
He also served on PSA’s senior management council from 2014 to 2025.
Wan pairs this industry experience with his deep investment expertise, having spent nine years in investment management at Temasek from 2003 to 2012, focused on transportation and logistics.
Beyond his executive career, Wan serves as an independent director of the National Shipping Company of Saudi Arabia, known as Bahri.
Wan said: ‘’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.’’
