Chairman of Singapore Post Limited (SingPost), Mr Lim Ho Kee, informed the Board of Directors today of his intent to step down as Chairman on 10 May 2016 when the company’s full year results are expected to be announced. Mr Lim will step down as a director at the Annual General Meeting (AGM) to be held in July 2016.
Mr Lim made his intent known after the conclusion of SingPost’s financial year on 31 March 2016. With this early notice, Mr Lim said he was giving the Board time to transition his role to ensure a proper handing over of his responsibilities.
In his letter to the Board, Mr Lim said, “The issue of board renewal has been on my mind for the last few years.” Mr Lim will be stepping down at the coming AGM. He added, “Some of you would be aware that I have been planning to step down now for almost three years but had felt compelled to stay and guide management.”
Mr Lim sought the Board’s understanding that family commitments were demanding more of his time now.