PIL names Wan Chee Foong as next CEO in 2027
Pacific International Lines appoints Wan Chee Foong as Deputy CEO from October 2026, with a planned transition to CEO in April 2027, succeeding Lars
Pacific International Lines (PIL) has named Wan Chee Foong as its next Chief Executive Officer. He will become Deputy CEO on 5 October 2026 before succeeding current CEO Lars Kastrup in April 2027, according to the Singapore-based container shipping company.
Lars Kastrup will remain as CEO during the six-month handover period. He will then serve as an advisor to PIL's Board.
Leadership transition plan
During the transition, Wan Chee Foong will work alongside Kastrup and the existing senior leadership team. He will progressively take on responsibility for the group's commercial, operational, and strategic priorities. PIL stated its senior leadership team will otherwise remain unchanged.
His previous roles include senior positions at PSA International, where he served as Regional CEO for the Middle East and South Asia and Head of Group Business & Commercial Development. He was also CEO of PSA BDP. Wan currently holds the position of Managing Director, Corporate Strategy at Temasek.
"I am honoured by the Board's trust and excited to build on the strong platform Lars and the PIL team have established," Wan said. He stated his immediate focus would be ensuring a smooth handover while working to deepen PIL's network and strengthen customer trust.
Fleet and financial expansion under Kastrup
Lars Kastrup joined PIL in 2020 and became CEO in July 2022. The company highlighted significant growth during his tenure. PIL's EBITDA rose from US$558 million in 2023 to US$1.50 billion in 2025. Net profit after tax reached US$1.04 billion in 2025 on revenue of US$4.27 billion.
The carrier reported its 2026 performance is on track to exceed 2025's results.
PIL's fleet capacity has increased by more than 50% to approximately 500,000 TEUs. A major fleet renewal program is underway, designed to replace up to half of the fleet within the next five years. The source provided the following details on vessel deliveries:
| Vessel Type | Number Delivered (H1 2026) | Number Scheduled (through 2029) |
|---|---|---|
| LNG dual-fuel vessels | 10 | 18 newbuildings + 14 long-term charter vessels |
The company has also expanded its network of wholly owned and controlled agencies. These now handle approximately 98% of PIL's cargo volume.
"With that foundation in place, this is the right time to hand over," Kastrup said. He noted that the ships ordered during his tenure will arrive during Wan's watch.
PIL will celebrate its 60th anniversary in 2027, the same year Wan Chee Foong is set to fully assume the CEO role.
