Bpost’s board of directors dismisses the CEO after the federal government issued a letter demanding his resignation. Van Avermaet, who had been working for barely a year, was discredited after it became known last summer that as a former CEO of security company G4S he may have been involved in illegal price fixing. There is a Belgian and an American investigation into this.
Last week, bad stock market results were added to that. On Wednesday, the Bpost share was hit by about 20 percent. As a result, Bpost has weakened considerably, in contrast to other postal services that are making a profit due to the increased parcel deliveries. The pressure on Bpost’s board of directors only increased to intervene.
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