SingPost announces new organisation structure

SINGAPORE Post (SingPost) on Monday morning said it has updated its organisation structure based on four pillars and this will take effect from Dec 1.

It said Marcelo Wesseler, CEO of eCommerce, will now lead the group's e-commerce business and operations.

"Given the importance of the acquisitions of TradeGlobal Inc and Jagged Peak in the US, Mr Wesseler will be relocated to the US to provide leadership for the eCommerce business in the market," said SingPost, which added that Woo Keng Leong, CEO of Postal Services, will focus on the mail business.

Goh Hui Ling is appointed deputy CEO of International Mail. As the key relationship manager with Alibaba, Ms Goh will continue to oversee business relations with the world's largest e-commerce operator.

Sascha Hower, group chief operating officer of SingPost and CEO of Quantium Solutions, is responsible for the operational transformation of the group and leads the group's operations in Singapore and the region under Quantium Solutions - the international arm for the SingPost's e-commerce logistics business.

Dr Hower will also oversee the integration of logistics acquisitions across the region, including CouriersPlease in Australia.

Group CFO, Mervyn Lim, has been appointed deputy group CEO of Corporate Services and will also cover post-merger integration, investor relations, human resources, legal, corporate secretariat, and property development & management.

Said SingPost chairman, Lim Ho Kee: "SingPost started transforming its business from 2003. Despite the success we have had in developing an eCommerce business, we must now focus on integrating our global acquisitions and investments in postal operations. We are taking the group forward to the next stage of its transformation."

Dr Wolfgang Baier, the group CEO, said the appointments will help sharpen the group's focus as it transforms into a digital company.

The move follows the completion of the acquisition of US end-to-end e-commerce provider, TradeGlobal, on Nov 14, which makes it an indirect subsidiary of SingPost.

This comes after the fulfilment of all the conditions.

SingPost said in a filing to the local bourse on Monday morning that the acquisition consideration paid by its wholly-owned subsidiary, Singapore Post Enterprise Private Limited (SPE), at completion was about US$169 million, subject to final working capital adjustments.

Based on the agreed formula referencing the acquisition consideration paid at completion, the effective equity interests of SPE and the rollover equity holders in TradeGlobal through TG Acquisition Corporation are 96.4 per cent and 3.6 per cent respectively.

TG Acquisition Corporation is an indirect wholly-owned subsidiary of SingPost.