In an exchange filing late on Dec 29, the board said it will also take into consideration the change in SingPost's profile following a divestment of the Australia business, and the subsequent need for a review of the group's strategy in evaluating the appointment of a new group chief executive.
SingPost's board said its statement was issued in response to comments and queries regarding the recent termination of the employment of three senior executives - former group chief executive officer Vincent Phang, former chief financial officer (CFO) Vincent Yik, and CEO of an international business unit (IBU) Li Yu - on Dec 21.
This came as a result of investigations into a whistle-blowing report received by SingPost in January, alleging the falsification of e-commerce shipment data at the IBU helmed by Mr Yu. The terminations were disclosed to shareholders on Dec 22.
The Straits Times had raised concerns that Mr Phang's removal could delay ongoing efforts to ensure the long-term commercial viability of the postal service business, and execute a new strategy to focus on logistics for future growth.
This story is from the December 31, 2024 edition of The Straits Times.
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This story is from the December 31, 2024 edition of The Straits Times.
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