Singapore Post Ltd. shares plummeted by a record 9.8% on Monday, marking the largest one-day decline in more than four years. The company fired its CEO and several other senior executives after receiving allegations related to its e-commerce logistics business. Phang, the former CEO, has vowed to “vigorously contest” his termination. This move comes amid concerns over the company’s international parcel delivery operations.
Source: https://www.bloomberg.com/news/articles/2024-12-22/singapore-post-fires-ceo-executives-after-whistleblowing-report