- Singapore PM Lee Hsien Loong will step down and hand over power to Lawrence Wong.
- After two decades, Singapore Prime Minister Lee Hsien Loong will step down from his post on May 15. Lawrence Wong will take oath as the next Prime Minister.
- Lawrence Wong is currently serving as deputy Prime Minister and Finance Minister.
- He has been a potential candidate for the Prime Minister post since 2002.
- Wong was designated as the PM-in-waiting in April 2022 after a rare disruption in the leadership transition process.
- Wong is also deputy chairman of sovereign wealth fund GIC and chairman of the Monetary Authority of Singapore, the Southeast Asian nation’s central bank.
- He led the education and national development ministries before becoming finance minister in 2021.
