Vincent Phang, who previously held the position of group CEO at Singapore Post, has stepped down from the company's board of directors as announced in a filing on the Singapore Exchange on January 12. His resignation follows his dismissal as CEO, which occurred on December 21, 2024, along with two other senior executives, amid concerns regarding the handling of a whistleblower's report.
Phang served as a non-executive, non-independent director on SingPost's board since September 1, 2021, and last had his position reaffirmed in July 2022. The board has acknowledged ongoing differences between Phang and the directors regarding significant issues, with Phang asserting that he strongly denies the allegations that led to his dismissal and plans to contest the proceedings vigorously on both merit and procedural fairness. Following his resignation, the SingPost board now comprises seven members, including its chairman, Simon Israel.
5 Comments
Katchuka
It's good to see the board taking action against wrongdoing. No one is above the rules, not even the CEO.
BuggaBoom
This is a dangerous precedent. If they can do this to Phang, they can do it to anyone.
Eugene Alta
Phang's resignation is a sign of guilt. He knows he can't win this fight.
Loubianka
Standing with Vincent Phang! Whistleblowers deserve protection, not scapegoating.
Marishka
The board has a responsibility to protect shareholders and employees. Phang's actions put them at risk.