Analysis: Shaky Toll Group still on life support
SingPost has appointed Paul Coutts as its new chief executive, 12 months after the resignation of Wolfgang Baier.
Effective on 1 June, Mr Coutts’ appointment will see him step down as chief executive of Toll Global Forwarding – part of Toll Group, bought by Japan Post for $4.9bn in 2015 – a position he has held since 2013.
SingPost group chairman Simon Israel said: “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.”
Alongside his position as chief executive, Mr Coutts also acted as marketing and sales director for forwarding activity from when he joined the firm in 2009 to the present. Prior to this, he worked in several roles over an 11-year period with Deutsche Post, having joined the group from TNT Express.
Mr Coutts said he was excited 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,” he added.
Mr Baier’s departure was one of three from SingPost’s upper echelons over a 10-month period, with group chief financial officer Daniel Phua stepping down in July 2015 and chairman Lim Ho Kee resigning last July, citing family commitments.
Following his announcement, Mr Baier stayed for a further six months as the group sought a replacement, with deputy chief executive Mervyn Lim – also appointed chief financial officer following Mr Phua’s resignation – and deputy chairman Goh Yeow Tin assisting in duties in the interim.