Why is PSA Chief retiring?

Today's Straits Times carried a piece reporting that Eddie Teh, PSA International's CEO, intends to retire in August. He had been with the port operator since 2002 and will be 62 when he retires. I have some thoughts with regards to his retirement.

1. Will the person replacing him be a Singaporean (born in Singapore regardless of race), preferably from PSA itself? After all, it is the ports that has made Singapore what it is today, and it is only congruent.  PSA did mean Ports of Singapore Authority. However, from the article, I get the feeling from the papers that they are looking for some one with a global perspective, meaning someone from the western Hemisphere, like Chip Goodyear.
2. Eddie Teh is only 62, why should he retire or is her retiring? He will probably cite "personal reasons" but the move will not seem congruent with the fact that the government has/will raise the statutory retirement age to 65. I am guessing that it is really stressful running PSA, due to strong competition from China's ports and also that Eddie Teh has the right to a slightly leisurely personal life. But if we were to bring in someone else, given that we have for the longest time been "the world's port of call", it will be hard to justify that his replacement come from outside of PSA International.

  These are just some thoughts as I still read the printed papers.