Royal Mail boss could receive £500,000 bonus

Royal Mail’s CEO, Moya Greene could be in line for a £500,000 bonus as the company prepares for a stock market listing, according to Sky News.

Greene took the helm in 2010 and is expected to receive the payout after near-trebling operating profits last year to £403m.

The bonus is yet to be formally approved by the remuneration committee however a decision will be be made ahead of the company’s annual report due to be released in July.

Greene is eligible for an annual bonus equivalent to a year’s salary which has been frozen at £498,000 for the last three years.

Last year she received a bonus of £371,000, however improved company performance means it is likely to be higher this year.

A spokesman for the Department for Business, Innovation and Skills said: "The Government has not made a decision on the precise form a transaction will take.

"Once we have decided on the type and timing of a transaction we will set out transparently the terms of any incentives ahead of a sale.

"However, it is not our intention to pay deal bonuses."

Comments (3)
Fri, 31 May 2013 8:53am BST
Gareth Francis
Hi Daniel, apologies for the delay, it was reported in some publications last Friday, we published it on Wednesday to go with our compensation and benefits newsletter.
Gareth
+ Read more...
- Show less
Thu, 30 May 2013 2:31pm BST
Daniel Kingston
Could you please reply to my comment....I'm anxious to know?????
+ Read more...
- Show less
Wed, 29 May 2013 10:18pm BST
Daniel Kingston
Can I just ask is this a new story or one that was announced last week. It's just I'm a royal mail employee and heard something similar at work but want to know if its the same one??
Thank you
+ Read more...
- Show less
Latest Stories
Is this the best resignation ever?
One employee has resigned by...
The 2 industries that work the most hours
“The more hours the better”
Firm discovers two employees haven't turned up for 15 years
Two employees who have not turned up for work for the past...
Bank bosses say jobs won't leave London
Two of Britain’s biggest banks have expressed their faith in London...
5 ways to improve diversity in your company
Diversity in the workplace is something that deserves much needed improvement & change...
Candidate allegedly robs fast food restaurant during interview
A candidate has allegedly robbed a fast food chain halfway through...
Five minutes with: Scott Livingstone, HR Director at Chivas Brothers
Scott Livingstone on the importance of integrating CSR into business culture...
Ministry of Justice UK hires HR Director
The Ministry of Justice has hired a new HR Director...
Read more...