Singapore state-owned investment company Temasek Holdings Pte. Ltd. and former Temasek Chief Executive Designate Charles "Chip" Goodyear differed on the company's new investment focus, a person familiar with the situation said Tuesday.

The person also said Goodyear planned some changes for the senior management that weren't well-received, without elaborating. Temasek's board must approve appointments for such posts.

Temasek said earlier Tuesday that Goodyear, former chief executive at BHP Billiton Ltd. (BHP), won't take over as chief executive of the state-owned investment firm as previously agreed in February, citing differences regarding certain strategic issues that couldn't be resolved.

The person familiar with the situation told Dow Jones Newswires that Goodyear's proposals for the firm's new strategic direction were considered too risky by some, without elaborating.

Temasek Chairman S Dhanabalan said in a statement that current Chief Executive Ho Ching wil continue in that capacity, but added that the company will continue with its succession planning process for the post.

-By Costas Paris and Se Young Lee, Dow Jones Newswires; +65 6415 4155; vincent.lee@dowjones.com