Singapore Post loses yet another top executive

Chairman Lim will step down in July.

Another top executive has opted to leave Singapore Post, the company revealed in a stock exchange filing late Friday.

Chairman Lim Ho Kee will step down as a director at the company's Annual General Meeting, which will be held in July 2016. Lim revealed his intent to leave his post at the conclusion of SingPost's financial year on March 31.

Lim's exit comes barely four months after chief executive Wolfgang Baier revealed that he is leaving the company "to pursue new endeavours".

When Baier announced his resignation in December 2015, SingPost had stated that Chairman Lim will "step up his involvement" to guide the management "over and above" his normal capacity as Chairman.

Lim said that he is stepping down because of family commitments.

"I have been planning to step down now for almost three years but had felt compelled to stay and guide management," he said in a letter to SingPost's board.

SingPost's board has unanimously agreed to appoint board member Low Teck Seng as Chairman, subject to regulatory approval.