SingPost shares tumble nearly 11% after sacking 3 senior executives

[Hightech88]

https://www.channelnewsasia.com/business/singpost-share-price-stock-sacking-3-executives-4822906

SingPost shares tumble nearly 11% after sacking 3 senior executives​

Analysts said the market’s knee-jerk reaction was not surprising given how the sacking of three senior executives at one go is “very rare”, although they were split on how the stock may fare in the longer term.
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[glockman]

That's a curious phenomenon. Shouldn't share prices have gone up since bad elements have been removed?

 

[oliverlee]

That's a curious phenomenon. Shouldn't share prices have gone up since bad elements have been removed?

backlash for a rotten system that has harboured 3 cheebais till their crime couldn’t be covered up and papered over

 

[nabeifuckpap]

Shut down all Singapore organizations totally corrupted to the core, just a fucking bunch of cunts at the top doing nothing collecting free money just like PAP!

The only local businesses worth supporting are local farms! Seng Choon eggs are the best out of all other brands!

 

[eatshitndie]

anyone who buys sinkie stocks can have one leg in marina bay.

 

[sbfuncle]

There are many e commerce delivery platforms but only singpost has access to all the hdb letterbox.

 

[knowwhatyouwantinlife]

https://en.m.wikipedia.org/wiki/GLP_(company)
One of the if not only company that gave TH and shareholders nice profits when they privatised and currently the chair sits on HKL's board and helping with the recycling of assets...GLP laid down current blue print for logistics in Sg so not sure why Singpost did not have the foresight to follow and have now fallen so far and low

 

[Rogue Trader]

Something fishy about this leadership purge. The wrongdoers had already been sacked and settlement paid to the affected business. Why the need to go after the 3 senior execs? The reason given was they weren't committed to the investigation.. Wtf?

Sounds like a deliberate move to replace these guys with Cecas

 

[steffychun]

I want Jo Teo sacked.

 

[nbcf]

That's a curious phenomenon. Shouldn't share prices have gone up since bad elements have been removed?

I think it is because investors are worried that with so many C-suite apt holders gone, Singpost operations will be affected in the short term. Good for share price in long term if capable replacements found but bad in the short term.

 

[winnipegjets]

Sell Singpost to Trump for $1.

 

[VanDick]

Leadership purge, and then share price plunge. I can smell something like the NTUC saga where some big MNC will swoop in and snap up SingPost on the cheap.

 

[A Singaporean]

Just like their big boss. People with no integrity.

 

[Balls2U]

https://mothership.sg/2022/08/steven-lim-singpost-stocks/

 

[Rogue Trader]

More drama. 4 vacancies now open for CECAs

SingPost board member Lim Cheng Cheng resigns​

It was also announced last month that Ms Lim is stepping down as Singtel group chief corporate officer. The telco is the largest shareholder of SingPost, which recently fired three senior executives including the group CEO.

Ms Lim Cheng Cheng. (Photo: Singtel website)

SINGAPORE: Ms Lim Cheng Cheng, outgoing group chief corporate officer of telco Singtel, has stepped down from Singapore Post's board of directors.

In a bourse filing on the Singapore Exchange (SGX) on Monday (Dec 23), SingPost said Ms Lim resigned as a non-executive, non-independent director of the company.

"Consequent to Ms Lim’s resignation, she will also cease to be a member of the finance and investment committee," said SingPost, adding that her resignation took effect from Monday.

Ms Lim served on the SingPost board for more than seven years since her appointment in April 2017.

In an announcement last month, Singtel said Ms Lim was stepping down as its group chief corporate officer due to a "new professional opportunity".

The telco is the largest shareholder of SingPost.

She joined Singtel in 2012 as vice president of group strategic investment and has held key leadership positions including managing director, group strategic investment and group CFO.

Her resignation from SingPost's board comes after the company fired three senior executives on Saturday over their handling of internal investigations into a whistleblowing report. SingPost's shares tumbled almost 11 per cent after the sackings.

 

[oliverlee]

First Korea tries to fuck around with martial law, then the ntuc debacle and now this. Seems like they are all trying to fuck the country and collapse the system so WEF can take over

 

[shock888]

anyone who buys sinkie stocks can have one leg in marina bay.

I only do US stocks and derivatives