$840 Million Singapore Post Fires CEO Vincent Phang, CFO Vincent Vincent Yik & Chief of International Business Li Yu for Mishandling Whistleblower Allegations on Misconduct by Employees in E-Commerce Logistics Parcel Business, 3 Employees Had Updated Delivery Failure Status When No Delivery was Done, Singapore Post to Pay Settlement to Customer, Share Price Decreased -10% in 1 Day, Chair Simon Israel Appointed to Oversee Senior Management, Founded in 1819 & IPO on Singapore Exchange in 2003
23rd December 2024 | Hong Kong
Singapore Post ($840 million market value) has fired CEO Vincent Phang, CFO Vincent Vincent Yik & Chief of International Business Li Yu for mishandling whistleblower allegations on misconduct by employees in e-commerce logistics parcel business, with 3 employees updated delivery failure status when no delivery was done. Singapore Post will pay settlement to a customer. Singapore Post share price decreased -10% in 1 day (23/12/24). Singapore Post Chair Simon Israel has been appointed to oversee the senior management. Singapore Post was founded in 1819, and IPO on Singapore Exchange (SGX) in 2003. In 2021, Singapore Post appointed Vincent Phang as Group CEO. Singapore Post (13/8/2021): “The Board of Singapore Post Limited (SingPost) today announced that Mr Vincent Phang Heng Wee will be appointed as Group Chief Executive Officer (Group CEO) and as Executive, Non-Independent Director of the SingPost Board, with effect from 1 September 2021. Mr Phang takes over from Mr Paul Coutts, whose last day of service as Group CEO is 31 August 2021. Mr Phang’s appointment follows an extensive global search process, which considered both internal and external candidates against a profile of the required leadership skills and commercial experience to lead SingPost in its transformation strategy to drive its next phase of growth. The appointment has received all required regulatory approvals. Mr Phang is currently SingPost’s CEO for Postal Services and Singapore, and since joining SingPost in April 2019, he has repositioned SingPost’s postal business by transforming the postal landscape of Singapore, significantly improving the service quality of both postal and last-mile delivery operations. Mr Phang also spearheaded the Future of Post vision to re-invent Singapore’s postal delivery infrastructure to address growing eCommerce demand. Mr Phang has more than 20 years of experience in the supply chain, logistics, industrial and manufacturing industries in Asia, including Singapore and Australia. Prior to joining SingPost, Mr Phang was the Group CEO of ST Logistics and EVP of Toll Global Logistics Singapore.”
“ $840 Million Singapore Post Fires CEO Vincent Phang, CFO Vincent Vincent Yik & Chief of International Business Li Yu for Mishandling Whistleblower Allegations on Misconduct by Employees in E-Commerce Logistics Parcel Business, 3 Employees Had Updated Delivery Failure Status When No Delivery was Done, Singapore Post to Pay Settlement to Customer, Share Price Decreased -10% in 1 Day, Chair Simon Israel Appointed to Oversee Senior Management, Founded in 1819 & IPO on Singapore Exchange in 2003 “
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$840 Million Singapore Post Fires CEO Vincent Phang, CFO Vincent Vincent Yik & Chief of International Business Li Yu for Mishandling Whistleblower Allegations on Misconduct by Employees in E-Commerce Logistics Parcel Business, 3 Employees Had Updated Delivery Failure Status When No Delivery was Done, Singapore Post to Pay Settlement to Customer, Share Price Decreased -10% in 1 Day, Chair Simon Israel Appointed to Oversee Senior Management, Founded in 1819 & IPO on Singapore Exchange in 2003
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