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SingPost adds three new directors to its board

SINGAPORE Post (SingPost) has appointed three new non-executive independent directors, taking the number of independent directors on its board to seven.

The three new directors are former Ernst & Young chairman Fang Ai Lian; Elizabeth Kong, director of law firm Morgan Lewis Stamford; and Bob Tan, chairman of Ascott Residence Trust Management.

SingPost chairman Simon Israel said: "These appointments bring governance and professional experience, critical skills, as well as greater diversity to strengthen the board and its committees.

"The implementation of the recommendations of the Corporate Governance Review, together with new director appointments, gives us a solid foundation to build on. Improving governance and board effectiveness is a continuous process to which we are committed."

Other recommendations from a corporate governance review include reconstituting the SingPost ExCo as a finance and investment committee (FIC) with a narrowed scope. The FIC consists of Mr Israel, non-independent directors Bill Chang and Justin Chen as well as independent director Ms Kong.

With the FIC, SingPost now has five board committees. The other four - the audit committee, board risk and technology committee, compensation committee and the nominations and corporate governance committee - have been reorganised to include the new directors.