Singtel group chief corporate officer leaves company, resigns from SingPost board of directors

Lim Cheng Cheng, 53, will be leaving Singapore Telecommunications Limited (Singtel) and her position as the group chief corporate officer in pursuit of "a new professional opportunity".

Following her departure from Singtel, Lim also resigned as a non-executive, non-independent director from Singapore Post (SingPost)'s board of directors, with effect from Dec. 23, 2024.

According to an announcement issued by SingPost on the same day, Lim was appointed to its board on Apr. 1, 2017, due to her position at Singtel, which is a substantial shareholder of the company.

Singtel has since nominated a new non-independent and non-executive director in lieu of Lim.

SingPost's board also expressed its appreciation for Lim for her contributions during her 7.5-year tenure.

Cease to serve on Finance & Investment Committee

Following her resignation from SingPost's board of directors, Lim will also cease to serve as a member of its Finance and Investment Committee, said SingPost.

The committee will now consist of Simon Israel, who serves as its chairman, Elizabeth Kong Sau Wai, and Yasmin Binti Aladad Khan.

Turbulent time for SingPost

The personnel change took place two days after SingPost announced that it had terminated three senior management staff members.

They are group chief executive (CEO) Vincent Phang, group chief financial officer (CFO) Vincent Yik, and the chief executive of the company's international business unit (IBU) Li Yu.

According to SingPost, the trio were found to be "grossly negligent" in the handling of internal investigations over a whistleblower's report that SingPost received earlier in 2024.

The report pertained to the group's non-regulated international e-commerce logistics parcel business.

Amongst others, Phang, Yik, and Li were found to have "accorded undue weight to the misrepresentations by representative(s) from SingPost's IBU" without "any independent substation or evidence".

They were also accused of making "serious misrepresentations to the audit committee", effectively undermining SingPost's group internal audit unit, which manages and investigates whistleblowing incidents.

SingPost's board said it had "lost confidence and trust" in the three executives' judgements and abilities, and they were terminated with immediate effect on Dec. 21.

In response, Phang and Yik said they will be contesting SingPost's decision "vigorously", both "on the merits" and "on the grounds of procedural unfairness".

Following the announcement, SingPost's share price had also plunged more than 10 per cent to S$0.50 on Dec. 23.

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