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Singapore Post fires CEO, other senior leaders amid whistleblowing charges | Company Business News

Livemint

Livemint · 6m ago

Singapore Post fires CEO, other senior leaders amid whistleblowing charges | Company Business News

Singapore Post Ltd. (SingPost) has fired its CEO, Vincent Phang, and other senior executives following allegations of misconduct in its e-commerce logistics operations. SingPost initiated investigations after receiving a whistleblower report accusing employees of manipulating data to avoid penalties. Three managers were dismissed, and a police report was filed. The CEO, CFO, and head of the international business unit were terminated for being "grossly negligent" and making misleading statements. SingPost will appoint a new CEO and has assured stakeholders that a settlement with the affected customer will not materially impact financial results. The terminated executives have contested their dismissal.

Related News

Companies News Today Live Updates on December 23, 2024: Singapore Post fires CEO, other senior leaders amid whistleblowing charges

Livemint

Livemint · 6m ago

Companies News Today Live Updates on December 23, 2024: Singapore Post fires CEO, other senior leaders amid whistleblowing charges

Singapore Post has fired its CEO and other senior leaders following whistleblowing charges. The company is undergoing a leadership change amidst allegations of misconduct and financial irregularities. Stay updated on the latest company news, financial performance, acquisitions, and market trends. Discover insights into mergers, financial results, and other significant developments impacting various industries.

Vistara CEO to lead major post-merger integration as Air India reshuffles senior management | Company Business News

Livemint

Livemint · 8m ago

Vistara CEO to lead major post-merger integration as Air India reshuffles senior management | Company Business News

The Air India Group has announced a reorganization of its senior management team in preparation for the merger of Vistara with Air India. The CEO of Vistara, Vinod Kanan, will continue to oversee the integration as Chief Integration Officer post-merger. Deepak Rajawat, Vistara's Chief Commercial Officer, will become the Chief Financial Officer at Air India Express. Other personnel changes include key executives from Vistara moving to senior roles at other Tata Group companies. All other executive roles and reporting lines within the Air India Group remain unchanged.

Singapore-based e-commerce platform Qoo10 fires 80% staff: Report

Latestly

Latestly · 10m ago

Singapore-based e-commerce platform Qoo10 fires 80% staff: Report

Online marketplace Qoo10 reportedly fired 80% of its workforce amid fund crunch and challenging market conditions. The Singapore-based startup, whose about 20 remaining employees will focus on day-to-day operations, didn't offer any benefits to the fired employees. This comes after reports said Qoo10's South Korean operations had defaulted on payments to merchants and consumers late last month.

Another Leadership Exit at Zomato, Hyperpure's Hemal Jain Resigns Amid GST Demand

OutlookIndia

OutlookIndia · 6m ago

Another Leadership Exit at Zomato, Hyperpure's Hemal Jain Resigns Amid GST Demand

Hemal Jain, global head of finance at Hyperpure, a Zomato vertical, resigned amid a Rs 803 crore GST demand notice issued to Zomato. This follows other recent senior management departures, including cofounder Akriti Chopra and independent director Gunjan Tilak Raj Soni. Jain, who joined Zomato in 2018 and was involved in its 2021 IPO, will leave on January 31, 2025. Zomato plans to appeal the GST order related to non-payment on delivery charges.

Wipro veteran quits for CEO role at smaller firm

Livemint

Livemint · 6m ago

Wipro veteran quits for CEO role at smaller firm

Srini Rajamani, a senior executive at Wipro Ltd responsible for life sciences and consumer businesses, has resigned to become CEO of Opus Technologies, a U.S.-based fintech firm. His exit marks another leadership departure from Wipro, following other senior executives leaving for various opportunities. Rajamani's move highlights a trend in the IT industry, where leaders are attracted to smaller firms for agility and growth potential, driven by factors like direct impact and financial incentives.

Sales, marketing leaders most in demand as CXO hiring rises 15% in H1 of 2024

Livemint

Livemint · 11m ago

Sales, marketing leaders most in demand as CXO hiring rises 15% in H1 of 2024

Sales and marketing leaders are in high demand in India as companies seek to strengthen their senior leadership amidst rising competition. A study by search firm Accord India reveals a 15% YoY growth in leadership hiring in the first half of the year. Business head and COO appointments increased by 13%, CEO hiring increased by 8%, and CFO hiring saw an uptick due to the increased number of IPOs. Other search firms, such as Korn Ferry and Michael Page, also report a surge in leadership hiring in the banking, financial services, insurance, and tech sectors.

12-year-old millionaire celebrates her birthday and retirement together in Aus

Money Control

Money Control · 1y ago

12-year-old millionaire celebrates her birthday and retirement together in Aus

Pixie Curtis, the 12-year-old CEO of Pixie's Fidgets, marked her birthday and retirement from her toy company in Australia to prioritize her education, as mentioned in The New York Post. Curtis co-founded the business with her mother in 2021, starting with selling bows and later venturing into the fidget spinner business amid the COVID-19 pandemic.

Paypal fires 2500 and UPS fires 12000 employees

Livemint

Livemint · 1y ago

Paypal fires 2500 and UPS fires 12000 employees

Payments firm PayPal is considering cutting around 2,500 jobs, or 9% of its global workforce, by 2024. CEO Alex Chriss cited the need to "right-size" the business to deliver for customers and drive profitable growth. In a separate move, logistics company UPS plans to lay off 12,000 employees to offset soft demand and higher labour costs. Both companies are taking measures to streamline operations and improve financial performance.

Surinder Chawla resigns as CEO of Paytm Payments Bank

Inshorts · 1y ago

Surinder Chawla resigns as CEO of Paytm Payments Bank

Surinder Chawla has resigned from the post of Managing Director and CEO at Paytm Payments Bank Limited (PPBL), citing personal reasons and career advancement. His resignation will be effective on June 26, 2024. Chawla's exit follows Praveen Sharma's resignation as Senior Vice President at Paytm last month, citing his interest in pursuing other opportunities.

Deepinder Goyal faces fire over NYE 'War Room' post

Livemint

Livemint · 1y ago

Deepinder Goyal faces fire over NYE 'War Room' post

Zomato CEO Deepinder Goyal faced backlash for sharing a post about Zomato's "War Room" on New Year's Eve. Netizens criticized him for not acknowledging the delivery partners and for promoting a toxic work culture. Some users argued that this behavior sets a bad precedent for entrepreneurs and senior leaders. In contrast, a screenshot of a notification from European grocery delivery platform Getir that stated operations would pause on New Year’s Eve sparked a discussion about the superior work culture in Europe.

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