SingPost to boost growth and Asian expansion with new CEOs

Singapore Post is restructuring its operations to boost growth and regional expansion of itslogistics services in Asia with a new CEO for postal and corporate services while another CEO will

The current Deputy Group Chief Executive Officer Ng Hin Lee will be promoted officially to thecompany’s CEO with effect from 7 February 2011. He will lead SingPost’s transformation efforts inits mail business placing a stronger focus on postal services. Responsible for the Group’sstrategic acquisitions, Ng Hin Lee will also oversee the corporate support services. In addition,he will cover for the position of the Chief Financial Officer until a suitable candidate isappointed, SingPost pointed out.

At the international level, SingPost aims to expand in the Asia Pacific region and generate morerevenues in the logistics and other non-postal businesses. To speed up the company’sregionalisation and diversification efforts, the company appointed Wolfgang Baier as the ChiefExecutive Officer for its international activities. SingPost said his international experience,especially in logistics, is key for SingPost’s expansion in the region.

From 7 February, Baier will oversee the Logistics, Retail and Financial Services and Sales andMarketing divisions as well as Quantium Solutions. Baier has worked with SingPost on majorinitiatives over the past 5 years. Previously, he was a partner of consultancy McKinsey &Company,

Lim Ho Kee, Chairman of SingPost, said: “The postal industry is facing enormous challengesespecially from e-substitution. Globally, mail volumes are on the decline. SingPost startedtransforming its business seven years ago and we have been quite successful in reversing thedeclining mail trend. We hope and are reasonably confident that we will be able to continue on thispath.”

“With a strengthened management team and resources aligned to provide sharper focus on itspostal services as well as its regionalisation and diversification efforts, the Group is poised toachieve higher performance,” Lim Ho Kee concluded.