Former group CEO sells 2.5 million SingPost shares

Former Singapore Post group chief executive Dr Wolfgang Baier has sold 2.5 million shares of the company for about $3.94 million, SingPost said.
Former Singapore Post group chief executive Dr Wolfgang Baier has sold 2.5 million shares of the company for about $3.94 million, SingPost said.PHOTO: ST FILE

SINGAPORE - Former Singapore Post group chief executive Dr Wolfgang Baier has sold 2.5 million shares of the company for about $3.94 million, SingPost said on Tuesday (May 17).

In a stock exchange filing, the firm noted that after the disposal of shares "via market transaction", Dr Baier still holds over 1.22 million SingPost shares.

The remaining shares represent 0.057 per cent of the total number of ordinary voting shares.

Dr Baier, who joined SingPost in February 2011 had resigned last December. Its deputy group CEO of corporate services, Mr Mervyn Lim, is covering the work of the group CEO while the company looks for a new group CEO.

Earlier this month, the firm named Mr Simon Israel, a former executive director and president of Temasek Holdings and chairman of Singtel, as its new chairman.

The appointment follows April's announcement by SingPost chairman of 13 years, Mr Lim Ho Kee, that he will not seek reappointment as a director at SingPost's shareholder meeting in July.