SingPost's dismissal of 3 senior executives 'unprecedented'; shareholders seek more details
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SINGAPORE - Singapore Post's dismissal of three senior executives, including its group chief executive and group chief financial officer, is unprecedented for a major Singapore-listed company, and highlights the importance of corporate governance, analysts saSingPost's dismissal of 3 senior executives 'unprecedented'; shareholders seek more details
SINGAPORE - Singapore Post's dismissal of three senior executives, including its group chief executive and group chief financial officer, is unprecedented for a major Singapore-listed company, and highlights the importance of corporate governance, analysts said. However, the company's handling of the whistle-blower's report that led to these dismissals has also left shareholders with unresolved questions. For example, details have not been provided on when the board received the whistle-blower's report and what safeguards were put in place while investigations took place. Disclosures surrounding the terminations are «insufficiently clear» to SingPost shareholders at this point, said Mr David Gerald, president and chief executive of the Securities Investors Association (Singapore), or Sias. SingPost's latest annual report for the 2024 financial year also did not specifically mention the whistle-blowing issue.