, Columnist
Singapore Boards Are Killing Value
Fixing gender imbalances and retiring overworked directors may boost shareholder value.
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Four months ago, Singapore Post was an attractive e-commerce logistics company with Alibaba as its second-largest shareholder. The Chinese Internet giant is still around, but SingPost is starting to look like what it was before the online retail revolution: A dead letter office for shareholder value.
The troubles began with the shock departure of its commercially successful chief executive in December, followed by a special audit to probe possible governance lapses. Then came legal skirmishes with an investor group and on Thursday, a boardroom revival left in disarray after the chairman-designate declined to take up the job on the grounds it would take more time and focus than he was prepared to give.