![Singapore's founding Prime Minister Lee Kuan Yew has handed over the Chairmanship of the Singapore Investment Corporation to his son, current Prime Minister Lee Hsien Loong (pictured). [AFP]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_sKB2sn0F5VS4tvW3UIhuJhjxwyf8tE1w2UwiTH3yeW7WTVOww30ccuLw4v2Lw9MGDI4V6EyqcdRNZhDjeVvFx7XhmcTmY1-8u0k6Ff2NXjHPnaYaIoqd90lSA=s0-d "Singapore's founding Prime Minister Lee Kuan Yew has handed over the Chairmanship of the Singapore Investment Corporation to his son, current Prime Minister Lee Hsien Loong (pictured). [AFP]")
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Singapore's founding Prime Minister Lee Kuan Yew has now stepped down from all his major government posts.On Wednesday, the 87-year-old handed over the Chairmanship of the Singapore Investment Corporation to his son, current Prime Minister Lee Hsien Loong.
Lee Kuan Yew has also stepped down from his cabinet position of Minister Mentor after more than 50 years in government, although he will remain a member of parliament.
His departure, and that of a fellow former Prime Minister, Goh Chok Tong, has cleared the way for a major cabinet reshuffle following the People's Action Party's poorest ever election result.
This will see Finance Minister Tharman Shanmugaratnam promoted to deputy prime minister and handed the manpower portfolio.
Eleven of Singapore's 14 government departments will have a new minister, in what analysts are calling one of the biggest cabinet shake-ups in the country's history.
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