Paul Coutts quits as SingPost CEO
Singapore Post is looking for a new CEO after Paul Coutts resigned following four years in the job, which included a strategic business review involving several disposals and acquisitions and a stronger focus on e-commerce logistics growth.
The postal group announced on May 31 that Coutts had resigned as a board director but would remain as Group CEO until August 31 or earlier during a handover period. The former DHL Express executive is leaving to pursue other opportunities. The company’s board of directors has already begun a search for a new top executive.
Coutts said: "When I joined, the Board had tasked me to resolve legacy issues, re-imagine the postal landscape in Singapore, re-position the Group for profitable, accelerated growth in e-commerce logistics and, finally, build a new leadership team and put in place a succession plan.
“Having delivered on those objectives and worked with the executive team in setting SingPost's strategic course for the next five years, I believe the time is right for someone new to lead the execution of that strategy and the next stage of SingPost's transformation journey. I leave the Group in good hands and with a bright future ahead.”
Board chairman Simon Israel commented: “On behalf of the Board, I extend our thanks to Paul for his service and contribution. He joined SingPost at a difficult time in the Group’s history. In the course of the past four years, Paul has had to deal with a significant decline in the domestic mail business, exiting the loss making US e-commerce business, and navigating through the challenges of COVID-19.
“Paul has put in place a new management team and reset the Group’s strategy around high growth e-commerce logistics in Singapore and the region. We expect to see the benefit of this transformation in the years ahead and we wish Paul well.”