SingPost directors quizzed about CEO search and company’s future strategies at AGM

[SINGAPORE] National postal service provider Singapore Post’s (SingPost) board was pressed by shareholders at its annual general meeting (AGM) on Wednesday (Jul 23) for more information about the path forward as its search for a new chief executive officer drags on.

Meanwhile, chairman Simon Israel, at his last SingPost AGM before stepping down, disclosed that the decision to divest SingPost Centre, the group’s flagship headquarters building in Paya Lebar, now lies with the reconstituted board, which will review whether the property is non-core to the group and is to be sold.

He and other directors were quizzed at the listed firm’s 33rd AGM held at Suntec Singapore about the reset strategy that shareholders have been looking forward to since they approved the divestment of the Australian logistics business Freight Management Holdings for A$1 billion (about S$845 million) in March.