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| Prime Minister Lee Hsien Loong |
Speaking at a news conference at the Istana, Mr Lee said it is an epochal change as Senior Minister Goh Chok Tong and Minister Mentor Lee Kuan Yew are leaving the Cabinet.
Both men announced their decision to step down last Saturday.
Mr Lee said Minister Mentor Lee Kuan Yew is appointed as the senior advisor to Government Investment Corporation of Singapore.
Senior Minister Goh Chok Tong is appointed as senior advisor to the Monetary Authority of Singapore and been given the title Emeritus Senior Minister.
Three more ministers will be retiring.
They are Deputy Prime Minister and Co-ordinating Minister for National Security Wong Kan Seng, National Development Minister Mah Bow Tan and Transport Minister and Second Minister for Foreign Affairs Raymond Lim.
Out of 14 ministries, 11 will have new ministers in charge.
Mr Lee said this will be a fresh team that will look at the future with a clean slate.
Their appointments will take effect on Saturday, May 21.
Mr Lee will have two Deputy Prime Ministers.
They are current Deputy Prime Minister and Defence Minister Teo Chee Hean who will remain Deputy Prime Minister and will be Home Affairs Minister and Co-ordinating Minister for National Security.
Mr Teo's Defence portfolio will be taken over by current Education Minister Ng Eng Hen.
The other Deputy Prime Minister is Finance Minister Tharman Shanmugaratnam who will retain his Finance portfolio and also be Manpower Minister.
The new Education Minister will be newly-elected MP Mr Heng Swee Keat.
Newly elected Major-General Chan Chun Sing will be Acting Minister for Community Development, Youth and Sports as well as Minister of State for Information, Communication and the Arts.
Law and Home Affairs Minister K Shanmugam will be Minister for Law and Foreign Affairs.
Health Minister Khaw Boon Wan will become National Development Minister, a portfolio he volunteered for.
Manpower Minister Gan Kim Yong will be the Health Minister.
Minister for Environment and Water Resources Mr Yaacob Ibrahim will head the Ministry of Information, Communication and the Arts.
Information, Communication and the Arts Minister Lui Tuck Yew will be Transport Minister and Second Minister for Foreign Affairs.
Community Development, Youth and Sports Minister Vivian Balakrishnan will be the new Minister for Environment and Water Resources.
Education Minister Ng Eng Hen will be Defence Minister.
Mr Lim Hng Kiang will remain Trade and Industry Minister.
Mr Lim Swee Say will remain as Minister in the Prime Minister's Office.
Mr S Iswaran will be promoted to Minister in Prime Minister's Office and Second Minister for Home Affairs and Trade and Industry.
Senior Minister of State Ms Grace Fu for Education and National Development will become Senior Minister of State for Ministry of Information, Communication and the Arts and Ministry of Environment and Water Resources.
Minister of State, Prime Minister's Office Mr Heng Chee How will be promoted to Senior Minister of State, Prime Minister's Office.
Madam Halimah Yacob will be promoted to be the Minister of State for Ministry of Community Development, Youth and Sports.
Also promoted, Ms Josephine Teo who will be Minister of State for Finance and Transport.
Newly elected MPs Mr Tan Chuan Jin and Mr Lawrence Wong will be appointed Ministers of State.
Brigadier General Tan will be Minister of State for National Development and Manpower, Mr Lawrence Wong will be Minister of State for Defence and Education, Ms Amy Khor will be Minister of State for Health.
Mr Teo Ser Luck will be Minister of State for Trade and Industry.
Minister of State for Trade and Industry and Manpower, Mr Lee Yi Shyan will be Minister of State for Trade and Industry and National Development.
Minister of State for Home Affairs and Education Mr Masagos Zulkifli will be Minister of State for Home Affairs and Foreign Affairs.
Mr Lee said Mr Tharman will be Chairman of the Monetary Authority of Singapore and Prime Minister Lee will be the Chairman of the GIC.
