In a notable shift within Singapore Post (SingPost), Ms Lim Cheng Cheng has stepped down from her role on the board of directors, effective from 23 December 2024. This resignation follows her recent announcement of leaving her position as Singtel’s group chief corporate officer.
Reasons for Departure
According to SingPost’s filing on the Singapore Exchange, Lim’s resignation as a non-executive, non-independent director marks the end of over seven years of service, having been appointed on 1 April 2017. Singtel, as the largest shareholder of SingPost, confirmed her departure was influenced by a new professional opportunity.
Impact of Executive Changes
Lim’s resignation comes amidst significant turbulence within SingPost, having recently terminated three senior executives over issues highlighted in a whistle-blowing report. The affected figures include:
- Vincent Phang, Group Chief Executive Officer
- Vincent Yik, Group Chief Financial Officer
- Li Yu, Chief Executive of the International Business Unit
These dismissals have led to a notable decline in SingPost’s share price, which dropped nearly 11% following the announcements.
Looking Ahead
Mark Chong, previously Singtel’s Chief Technology Officer, will take over Ms Lim’s responsibilities within the company. As Lim transitions out, her absence will be felt on the finance and investment committee, a role she held alongside her board membership.
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