SingPost new group CEO Vincent Phang to start on Sept 1

THE board of Singapore Post (SingPost) S08 : S08 0% announced on Friday that Vincent Phang will be named group chief executive officer (CEO) and executive, non-independent director from Sept 1.

The current group CEO Paul Coutts' last day with the postal service provider is Aug 31. Mr Coutts had spent some four years at the helm, and his resignation was announced about two months ago.

Mr Phang, 47, is currently SingPost's CEO for postal services and Singapore, and joined the company in April 2019.

His latest appointment came after an extensive global search process, which considered both internal and external candidates, and has received all required regulatory approvals, SingPost said in a statement.

Mr Phang has repositioned SingPost's postal business by "significantly improving the service quality of both postal and last-mile delivery operations", the company added.

He also spearheaded the Future of Post vision to re-invent Singapore's postal delivery infrastructure to address the growing e-commerce demand.

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Simon Israel, chairman of SingPost's board, said Mr Phang "has been instrumental in raising the standards and performance of SingPost's postal business and driving innovation".

Through the Covid-19 pandemic, Mr Phang has also shown "exemplary leadership" in ensuring continuity in Singapore's postal services and driving the company's e-commerce logistics agenda, Mr Israel added.

As group CEO, Mr Phang will head SingPost's strategy to transform into a leading logistics player in its markets.

He has more than two decades of experience in the supply chain, logistics, industrial and manufacturing industries in Asia, including Singapore and Australia.

Before joining SingPost, he was the group CEO of ST Logistics and executive vice-president of Toll Global Logistics Singapore.

Last Friday, SingPost reported a 2 per cent drop in its earnings before income and taxation to S$21 million for its first quarter ended June 30, 2021, due to declines in the international post and parcel business.

Shares in SingPost rose 0.8 per cent or 0.5 Singapore cent to close at 64.5 cents on Friday.

READ MORE:

• SingPost's next CEO has to deliver on the bottom line 

• SingPost group CEO Paul Coutts resigns 'to pursue other opportunities'

• SingPost registers 2% fall in EBIT for Q1 FY2021 on decline in international business 

• A leap of faith in logistics' last mile