Meanwhile, Paul Demirdjian, who is currently president and CEO of SingPost’s US subsidiary Jagged Peak, has been appointed as interim CEO, US Business, with immediate effect to oversee the group’s businesses in the US.
SINGAPORE (March 7): OCBC Investment is maintaining its “hold” call on Singapore Post (SingPost) with a lower fair value of $1.39 from $1.42 previously, while noting a lack of catalysts for re-rating on the stock.
This comes after the group’s Monday evening announcement of the resignation of its CEO (SP Commerce) Marcelo Wesseler – whom it says will be assisting the company to “ensure a transition of duties” during his period of notice until Jun 5.
