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
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Thu, 30 May 2013 2:31pm BST
Daniel Kingston
Could you please reply to my comment....I'm anxious to know?????
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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
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