Post Office loses the boss who gave it new direction

[TrueBlueTerrier]

http://business.timesonline.co.uk/tol/b ... 980080.ece" onclick="window.open(this.href);return false;

Alan Cook, the Post Office’s first managing director, is to retire after just over four years in the job, Royal Mail said yesterday.

Mr Cook, 56, was hired by Adam Crozier, the chief executive of Royal Mail, in March 2006. After accomplishing a turnaround at National Savings and Investments (NS&I), where he had been chief executive since 2002, his brief was to “freshen up” the Post Office.

Royal Mail said a successor to Mr Cook, who steps down in May, would be announced in due course. Morale was low at the time of his appointment after a programme of cuts to the network, while the Government’s decision to automate benefit payments had removed a major — and lucrative — chunk of business.

However, Mr Cook has won plaudits for his work at the Post Office, which recently reported a near-50 per cent rise in half-year profits despite a fall in revenues as traditional government business continued to decline.


During his stewardship, the Post Office has become one of Britain’s fastest growing providers of financial services with 2.1 million customers and it operates one of Britain’s biggest free-to-use networks of cash machines.

The organisation is expected to launch a current account this year, building on its existing relationship with Bank of Ireland, which flourished in the financial crisis as the Irish Government’s guarantees on deposits resulted in a rush of new business.

Last night, Mr Crozier praised Mr Cook’s work, saying that he had made a “fantastic contribution”.

Mr Cook, who is expected to seek non-executive directorships, left school at 16 to work for Prudential in the car and home insurance division, which he ended up running.

He worked his way up to chief operating officer before being headhunted by Gordon Brown, then Chancellor, to run NS&I. He went on to achieve a successful turnaround through moves which included doubling the number of £1 million Premium Bond jackpots.

[El-Bandito]

Why do the words drowning ship and rats keep coming into my head?

[POSTMAN]

Alan Cook,rumoured to have got a £1M bonus for the Post Office hits a year or so ago,likes to subscribe to various websites,like the Chartered Management Institute,£143.00,Chartered Insurance Institute,£153.00,and one called IofD,£295.00,which i can't seem to find any info on but I'm guessing it's one to help him out with his work.He's the dude that claimed a £5.47 snack for working over a 12 hour day.He must of sent a fax that day as he claimed £13.00 for it.

http://www.royalmailchat.co.uk/communit ... 18&t=20798" onclick="window.open(this.href);return false;

:mfo