Singapore Post (SingPost) has appointed a new group chief executive, ending a year-long wait for anxious investors after the abrupt resignation of Dr Wolfgang Baier in December last year.

Chief financial officer Mervyn Lim is holding the fort as covering group chief executive.

Mr Paul William Coutts will helm SingPost with effect from June 1 next year, the firm announced yesterday. He will also join the postal and e-commerce group's board as a non-independent director on that date. The group had earlier said it would name a new chief executive officer before the end of this year.

Mr Coutts, who is British, will join SingPost from Toll Global Forwarding, one of the five divisions of logistics player Toll Group, where he has been CEO since February 2013 in a global role based in Singapore.

Mr Coutts, 60, also has more than 20 years of executive experience at major global logistics and postal companies. His appointment adds to the new blood that has been brought in to lead SingPost after the group came under scrutiny for corporate governance lapses shortly after Dr Baier's departure last year.

SingPost chairman Simon Israel said of Mr Coutts: "Given his seniority and the experience he brings from an extensive logistics and postal career including global leadership roles, Paul is well positioned to provide overall leadership to the transformation of the group, integrate SingPost's e-commerce logistics platforms and build out a globally competitive business."

Mr Coutts said in a statement: "It is exciting to have the opportunity to lead SingPost through a transformation into an e-commerce logistics company.

"The natural fit of postal services with e-commerce logistics, together with Singapore's strategic position as a hub, provides a platform to build a world-class business."

The announcement was made after trading hours. The counter closed up half a cent at $1.47 yesterday.