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17-12-2015, 09:52 AM
(This post was last modified: 22-07-2017, 08:41 AM by weijian.
Edit Reason: update ST link
)
SingPost board is under a spot-light, after the CEO resigned...
(not vested)
Don flags worries about SingPost
17 Dec 2015 09:00
By Grace Leong
The shock resignation of Singapore Post (SingPost) group chief executive Wolfgang Baier last week underscores the problems the firm has with corporate governance, according to National University of Singapore (NUS) Business School associate professor Mak Yuen Teen.
Prof Mak said the firm has seen CEOs come and go while being a laggard when it comes to board renewal. Dr Baier stunned market watchers last week when he resigned after four years at the post and after what many analysts praise as a radical transformation of the firm that has turned it into a global logistics force.
A check shows that Dr Baier's predecessor Wilson Tan was the third SingPost group CEO to resign in a five-year span when he stepped down in April 2010.
While Prof Mak noted that SingPost was named last month as one of the top 50 Asean publicly listed companies in terms of corporate governance, "there were certain practices that troubled (him)".
He pointed to the long tenure of some of SingPost's independent directors and questioned the relevance of the skills and experience of some of them in the light of the firm's transition into an e-commerce logistics player.
His other concerns include a possible lack of clarity between the roles of the board or executive committee and management and the experience of the transition team they have in place to oversee the integration process after several acquisitions, including that of e-commerce provider TradeGlobal Holdings.
...
Source: Straits Times
http://www.straitstimes.com/business/com...t-singpost
(not vested)
Don flags worries about SingPost
17 Dec 2015 09:00
By Grace Leong
The shock resignation of Singapore Post (SingPost) group chief executive Wolfgang Baier last week underscores the problems the firm has with corporate governance, according to National University of Singapore (NUS) Business School associate professor Mak Yuen Teen.
Prof Mak said the firm has seen CEOs come and go while being a laggard when it comes to board renewal. Dr Baier stunned market watchers last week when he resigned after four years at the post and after what many analysts praise as a radical transformation of the firm that has turned it into a global logistics force.
A check shows that Dr Baier's predecessor Wilson Tan was the third SingPost group CEO to resign in a five-year span when he stepped down in April 2010.
While Prof Mak noted that SingPost was named last month as one of the top 50 Asean publicly listed companies in terms of corporate governance, "there were certain practices that troubled (him)".
He pointed to the long tenure of some of SingPost's independent directors and questioned the relevance of the skills and experience of some of them in the light of the firm's transition into an e-commerce logistics player.
His other concerns include a possible lack of clarity between the roles of the board or executive committee and management and the experience of the transition team they have in place to oversee the integration process after several acquisitions, including that of e-commerce provider TradeGlobal Holdings.
...
Source: Straits Times
http://www.straitstimes.com/business/com...t-singpost
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