SingPost’s fired CEO Vincent Phang resigns from board

His resignation was effective 12 January.

Singapore Post (SingPost) announced that Vincent Phang has stepped down from his position as non-executive, non-independent director effective 12 January.

His resignation follows his termination as group CEO after he was involved in mishandling whistleblower allegations. Phang was fired from being the group CEO on 21 December.

Phang, along with Li Yu, CEO of the group’s international business, and the group’s CFO Vincent Yik were dismissed after it was revealed that the trio were ‘grossly negligent and had omitted to consider material facts that compromised their decision-making and/or failed to perform their duties responsibly and reliably.’

The whistleblower reports dated January and February 2024 led to their probe on the manual keying in of the “delivery failure” (DF) status code allegedly without basis or supporting documentation and with the intention of avoiding contractual penalties.

In a bourse filing, SingPost said that “Mr. Phang has stated that he categorically refutes the allegations made against him in the disciplinary proceedings leading up to his termination of employment and has, through his solicitors, indicated that he will vigorously contest the termination of his employment, both on merits and on the grounds of procedural unfairness.”

Phang was appointed director of the company on 1 September 2021.

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