Two directors quit over the past two months: Lim Cheng Cheng and Vincent Phang

Singapore Post has announced the appointment of two new independent directors.

The first ID is Chng Lay Chew, former CFO of Singapore Exchange S68. He held this role between Dec 2011 and Sept 2020. He holds 30,000 SingPost shares.

Chng Lay Chew / Photo: The Edge Singapore

The second ID is Ng Chin Hwee, former CEO of SIA Engineering between April 2020 and Sept 2023.

Both appointments take effect today, Feb 17.

A previous director, Lim Cheng Cheng, who was substantial shareholder Singtel's representative to the SingPost board, quit on Dec 23, after she had earlier resigned from the telco.

Lim held the role of non-executive, non-independent director.

Following Lim's resignation, Vincent Phang, who was terminated last December as the group CEO of SingPost, has also resigned from the board on Jan 12.

Lim stepped down to pursue a new professional opportunity, while Phang's resignation from the board was related to the whistle-blowing issue.

SingPost is expected to call an EGM for shareholders to approve the sale of a key Australia-based unit.

SingPost shares closed at 56 cents on Feb 14, up 0.9% for the day and up 36.59% in the past 12 months.