Keith Tay to resign as SingPost lead independent director immediately

THE Singapore Post director at the centre of the group's just-concluded corporate governance special audit has announced plans to leave the board by the end of May.

Keith Tay said in a press release on Tuesday night after the special audit findings were released that he intends to relinquish his role as SingPost's lead independent director "with immediate effect" and hopes to step down from the audit committee, nominations committee and executive committee by May 9.

He added that he has asked the board to let him step down as a director before the end of May, saying: "Now that the report has substantially cleared my name in relation to the Famous acquisitions, I only intend to remain on the SingPost board for the very short term, as a matter of accountability, to address any residual concerns or clarifications arising from the report."