SingPost dismisses CEO Vincent Phang amid misconduct investigation

Singapore Post has dismissed its group CEO, Vincent Phang, along with two other executives, following an investigation into misconduct. Their departure raises concerns about the company's restructuring efforts and future growth plans, particularly in logistics and asset divestment. Phang had been leading a three-year transformation plan, which included a proposed sale of SingPost's Australian freight management business for A$776 million. Analysts are uncertain how his exit will affect these plans, especially since the Australian unit is a key profit contributor. SingPost's board stated that the leadership changes will not impact postal services or ongoing operations. An acting CEO will be appointed for the international business unit, while the new group CFO will be Isaac Mah, pending regulatory approval.