SingPost seeks new CEO after Wolfgang Baier resigns

SINGAPORE — Postal and logistics services firm Singapore Post (SingPost) said yesterday that its group CEO Wolfgang Baier, who oversaw the expansion of the company into businesses related to e-commerce, has resigned to pursue “new endeavours”.

However Dr Baier, 41, will “support a handover until June 30, 2016, or earlier”, it said in a statement.

The company, whose investors include Alibaba Group Holding, said it was looking at internal and external candidates to replace Dr Baier.

As part of the transition plan, deputy chairman Goh Yeow Tin will become an executive director for 12 months, effective Jan 1 next year. Mr Goh will oversee the group’s post-merger integration activities, the business and operations in Singapore.

Mr Mervyn Lim, deputy group CEO (corporate services), will cover the duties of Dr Baier in the interim, while chairman Lim Ho Kee will also step up his involvement in the company until a new CEO is appointed.

Dr Baier joined SingPost as CEO (international) in February 2011 to oversee the development of the international wing. He was formerly a partner at McKinsey & Co. In October 2011, Dr Baier was appointed group CEO to lead SingPost in a crucial stage of its transformation.

“Under Wolfgang’s leadership and great team effort, SingPost has been established as a regional leader in e-commerce logistics business, with a strong focus on digitising our business,” said the SingPost chairman, Mr Lim.

Dr Baier’s resignation comes after SingPost announced last month changes to its organisational structure based on “four pillars”: e-commerce, postal, logistics and operations, and corporate services.

The reorganisation came after the national postman reported that net profit for its fiscal second quarter ended September had surged 38.5 per cent on-year to S$53.4 million, boosted by divestment gains and continued growth in its logistics and e-commerce businesses.

While revenue from SingPost’s traditional mail business dropped by 5.6 per cent, logistics revenue rose by 43.3 per cent, partly due to growing contributions from e-commerce activities, and revenue from the retail and e-commerce segment rose 7.1 per cent. With mail volumes coming down domestically and regionally, the company is continuing its push into the two areas of logistics and e-commerce to drive growth.

SingPost last month also unveiled plans to develop, by mid-2017, a S$150 million e-commerce retail mall, a Singapore first that will combine brick-and-mortar shops and online shopping.

In September, SingPost used a drone to deliver a packet containing a letter and a T-shirt from Lorong Halus to Pulau Ubin in about five minutes. It said the trial marked the first time a postal service in the world had successfully used an unmanned aerial vehicle for “point-to-point recipient-authenticated mail delivery”.

“It has been an exciting journey with the entire SingPost team as we stepped up SingPost’s transformation from a domestic mail player to a regional e-commerce logistics leader,” said Dr Baier in the statement yesterday. “I am moving to new endeavours and will ensure a smooth handover before I leave … On a more personal note, I will certainly miss the camaraderie and energy at all levels,” he added. WITH AGENCIES