Singapore Post dissolves executive committee

SINGAPORE - Singapore Post Ltd said on Thursday its executive committee has been dissolved, and that five directors will have left the board by the coming annual shareholder meeting in July.

The company said in a statement that Keith Tay, Goh Yeow Tin and Wolfgang Baier have resigned, adding that recommendations from a corporate governance review were expected by the end of June.

The announcement came after Singapore Post, partly owned by Alibaba Group, said in May that the city-state's Accounting and Corporate Regulatory Authority was starting investigations on possible breaches of the Companies Act.