SINGAPORE, Dec 29 (Reuters) - Singapore Post Ltd named an executive from logistics firm Toll Group, Paul Coutts, as its new group chief executive officer.
The announcement comes nearly a year after Wolfgang Baier, who oversaw SingPost’s expansion into businesses related to e-commerce, resigned as CEO from the company, which counts Singapore Telecommunications and Alibaba Group Holding among its top shareholders.
Shares of SingPost, which has a market value of $2.2 billion, suffered a decline after questions were raised over its corporate governance. The company has since implemented several changes to address shareholder concerns. (Reporting by Aradhana Aravindan; editing by David Clarke)