Singapore Prime Minister Lee Hsien Loong said Monday that he will step down on May 15 after two decades at the helm, and hand power to his deputy Lawrence Wong, APA reports citing Dayton Daily News.
Lee, 72, will formally advise the city-state's president to appoint Wong, who is currently deputy prime minister and finance minister, to succeed him, his office said in a brief statement. Wong, who has the unanimous support of lawmakers in the long-ruling People's Action Party, will be sworn in at the national palace later the same day, the office said.
Lee has served as prime minister and head of the PAP since August 2004.
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