SingPost – BT

SingPost looking for new group CEO

SINGAPORE Post Ltd (SingPost) is on the lookout for a new group chief executive officer (GCEO) as current GCEO Wilson Tan has resigned.

Mr Tan, who is leaving SingPost ‘to pursue other opportunities’, will also step down as director of the board. His last day at SingPost will be April 3.

Just last week, SingPost announced it was appointing its chief financial officer Ng Hin Lee as deputy group CEO. Mr Ng, who concurrently remains CFO, officially began his term as deputy group CEO yesterday.

If a suitable candidate is not selected by April 3, Mr Ng will assume the duties of group CEO until a replacement is found.

Mr Tan, who came on board in October 2007, has contributed towards SingPost’s transformation as it diversified from a postal services provider to a mail, logistics and retail solutions provider in the region, SingPost said in an announcement to the Singapore Exchange (SGX) yesterday.

It was also under his helm that SingPost acquired Quantium Solutions International (formerly known as G3 Worldwide Aspac) and US-based Postea Inc, which is expected to bolster SingPost’s regional growth and expansion.

Mr Tan said: ‘It is gratifying to see SingPost develop from strength to strength and indeed to be part of its exciting transformational journey. The postal and logistics landscape has been evolving in tandem with changes in customers’ lifestyles, and SingPost has been adapting and reinventing itself to stay relevant to its customers.’

SingPost chairman Lim Ho Kee added: ‘On behalf of the board, I wish to register our appreciation to Wilson for his invaluable contributions and leadership, especially under the difficult and challenging environment of the past year.’

For the second quarter ended Sept 30, 2009, SingPost chalked up a net profit of $40.5 million, up 8.3 per cent from the previous corresponding quarter. Without the amortisation of deferred gain (which relates to the collaboration with Postea), the government’s Job Credit Scheme and other one-off items, the group’s underlying profit fell 8.6 per cent to $35.4 million.

Group revenue – which was strengthened by the consolidation of revenue from Quantium Solutions Group – increased 7.9 per cent to $130.3 million.

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