Singapore PM Lee to step down on May 15 and hand power to his deputy

SINGAPORE (AP) — Singapore Prime Minister Lee Hsien Loong says he will step down on May 15 after two decades at the helm and hand power to his deputy Lawrence Wong. His office said Monday that Lee, 72, will formally advise the city-state’s president to appoint Wong, who is deputy prime minister and finance minister, to succeed him. It said Wong, who has the unanimous support of lawmakers in the long-ruling People’s Action Party, will be sworn in later the same day. Wong will be Singapore’s fourth leader. Lee has served as head of the PAP and prime minister since August 2004. He announced last November he would retire this year as there was no reason to delay the political transition.