Singapore Post (SingPost)’s former group chief executive Vincent Phang has resigned as the company’s non-executive, non-independent director, according to a bourse filing by the company on Jan 13.
This news comes after Phang, Vincent Yik and Li Yu — the former group chief financial officer and former chief executive of SingPost’s international business unit — were fired by SingPost on Dec 21.
The former top executives of SingPost were found to have been negligent in the handling of international investigations over a whistle-blower’s report.
All three executives have said that they will contest the sacking, while the Securities Investors Association Singapore (SIAS) also called for an independent professional inquiry into the sackings.
SIAS previously asked SingPost if they would publish the key findings of the internal investigation report, in which SingPost said that internal investigations will not be published.
In its reply to the retail investor watchdog, SingPost pointed to previous announcements and said the internal investigations will not be published.
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On Jan 2, SingPost appointed Neo Su Yin as its group chief operating officer (COO).
Phang still holds directorships at five organisations. His roles are at The Logistics Institute – Asia Pacific Advisory Board (Director); Workplace Safety and Health (WSH) Council (Deputy Chairman); Advisory Panel of the Chartered Institute of Logistics and Transport Singapore (Member); Multi-Agency Workplace Safety and Health Taskforce (Member); and The Pyramid Management Committee (Associate Member).
Shares in SingPost closed 1 cent down or 1.852% lower at 53 cents on Jan 13.
