SingPost announced on December 22, 2024, that it had fired its group CEO, group CFO, and head of the international business unit in a late Sunday night filing with the Singapore Exchange (SGX ).
A reporting report about the party’s non-regulated global e-commerce logistics shipment business was released earlier in the year.
The global business unit allegedly made human entries of a number of delivery status codes.
These were for packages that the business agreed to deliver as part of a deal with “one of its largest clients.” This client was no named.
The handbook entries reportedly were done to avoid the customer having to pay some of the customer’s legal penalties. Without any justification, the process was carried out without any supporting documentation.
An investigation was launched, and administrative proceedings were taken against three professionals. They were fired, and a policeman report was filed against them.
To review the situation separately from management, exterior expert advisers were hired.
SingPost claimed that the three top executives ‘ handling of domestic investigations into the reporting reports and the renewal of the agreement was “grossly careless” in their conduct.
They had “omitted to acquire material details” and they had “failed to perform their duties properly and reliably”, said SingPost.