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PIL kicks off management reboot

PIL has appointed a former MPA director to head up its fleet operations, replacing a veteran who spent more than 17 years with the group. More management changes are expected as the shipping group restructures after receiving financial help from a Temasek unit

As the founding family of the shipping group, the Teos are expected to cede majority control over the board, sources say. Temasek-linked Heliconia Capital is pumping in $600m to help PIL with its restructuring

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