Royal Mail In Talks With Canada Post's Greene

[TrueBlueTerrier]

http://blogs.news.sky.com/kleinman/Post ... df25c6f13a" onclick="window.open(this.href);return false;

The head of the Canadian postal operator is in talks about becoming the new chief executive of Royal Mail, I have learned.

Moya Greene, who has been chief executive of Canada Post since 2005, flew to Britain last week to meet ministers in the new coalition Government and Royal Mail board members, I am told.

Greene’s appointment is not yet a done deal, and could yet fall through, according to people who say that it has not yet had formal Government sign-off. A company spokeswoman has just told me that there are still other candidates in the frame for the job.

If Greene is confirmed as the successor to Adam Crozier, however, she would become the first female chief executive in Royal Mail’s long history as well as (I think) the first non-Brit to run the company.

Greene would be charged with playing a leading role in the part-privatisation of Royal Mail along the lines of plans outlined in yesterday’s Queen’s Speech. Under those proposals, up to 49 per cent of the company will be sold to private investors and Royal Mail employees in order to help facilitate its modernisation, although the Post Office network will remain in Government ownership.

The Communication Workers’ Union (CWU), the main Royal Mail union, will be particularly interested in the news as it continues its annual conference in London today.

The recruitment process has been led by Donald Brydon, Royal Mail’s chairman, and I’m told that if there are no last-minute hitches, an announcement is expected sometime in the next couple of weeks.

Here’s an excerpt from Ms Greene’s biography on the Canada Post website:

“Ms. Greene has been a senior officer of three of Canada's largest multinational companies, first in banking and financial services, where she held the positions of Managing Director, Infrastructure Finance at TD Securities Inc., and Senior Vice President, Retail Products at Canadian Imperial Bank of Commerce; and most recently as Senior Vice President, Operational Effectiveness at Bombardier Inc.”

Royal Mail board members are understood to have been impressed by Greene’s diverse commercial background.

One factor that may cause a delay to Greene’s appointment is remuneration, since I am told she is likely to be paid less than her predecessor. Before the general election, David Cameron pledged that public servants should not, by and large, be paid more than 20 times the salary earned by the lowest-paid employees of their organisation.

Assuming Greene is Royal Mail's new boss, she is unlikely to join before a valuation of the company's pension deficit which is next month expected to disclose a vast £10bn-plus black hole.

The new chief executive's in-tray will nevertheless be full, though, as they attempt to tackle that deficit, continue the company's modernisation programme and improve service levels in an inreasingly competitive industry.

[TrueBlueTerrier]

http://business.timesonline.co.uk/tol/b ... 136889.ece" onclick="window.open(this.href);return false;


Royal Mail is understood to be in talks to appoint the head of Canada Post, Moya Greene, as its new chief executive.

The state-owned company has been looking for a new boss since the end of January, when Adam Crozier announced he was leaving to become chief executive at ITV.

Ms Greene’s appointment has to be signed off by the Business Department, which is headed by Vince Cable, before it can be confirmed. Royal Mail was this morning unable to comment.

Ms Greene has been president and chief executive of Canada Post since 2005.

She faces a turbulent time if she is confirmed at the new chief executive of Britain’s postal service, as the new government has outlined plans to part-privatise Royal Mail with the sale of 49 per cent of its shares. Union leaders have vowed to fight the sale.

She will also need to tackle the company’s large pension deficit, which is estimated to be as high as £10 billion.

Although Canada Post is a state-owned corporation, Ms Greene also has experience in the private sector, having worked as an executive for three of Canada’s largest multinational corporations. She has previously held posts as managing director at TD Securities Inc, the stockbroking part of the Toronto Dominion Bank; senior vice-president at Canadian Imperial Bank of Commerce; and senior vice-president at the aircraft manufacturer Bombardier.

[DirtyHarry]

The first non-Brit to head the Royal Mail.
This government on course to sell a 49% stake in Royal Mail, no doubt to non-Brits.
Makes your heart swell with pride, don't it?

[heapsy]

Mmmm there may be a stumbling block with this. I heard today on SKY that the government have imposed a wage restriction on Chief Execs pay. Apparently, unless the government gives the go ahead, no Chief Exec can earn more than 200 times the pay given to the lowest paid worker in that department or in RMs case state owned company. With RM dishing out 24hr contracts like confetti at a wedding this doesn't sound like very much.

[falkor]

Mmmm there may be a stumbling block with this. I heard today on SKY that the government have imposed a wage restriction on Chief Execs pay. Apparently, unless the government gives the go ahead, no Chief Exec can earn more than 200 times the pay given to the lowest paid worker in that department or in RMs case state owned company. With RM dishing out 24hr contracts like confetti at a wedding this doesn't sound like very much.

What about the millions of pounds in free shares? :

[Big Daz]

Its Crozier mark 2 :cfo



http://finiansworld.blogspot.com/2010/0 ... -post.html" onclick="window.open(this.href);return false;

[Big Daz]

http://www.cwu.org/news/archive/cwu-wel ... -exec.html" onclick="window.open(this.href);return false;

CWU Welcomes Appointment of Royal Mail Chief Exec

26th May 2010

The Communication Workers Union today (Wednesday) welcomes news that Royal Mail is to appoint Canada Post's Moya Greene as the new Chief Executive replacing Adam Crozier who left last month.

Dave Ward, CWU deputy general secretary, said: "It's good to see the appointment of a person with a public sector background to Royal Mail.

"It's important that the new chief executive continues to move ahead with business transformation in partnership with the CWU. We look forward to meeting Moya Greene and establishing a productive working relationship."

[TrueBlueTerrier]

MOYA GREENE- As Assistant Deputy Minister, Policy, at Transport Canada, Ms. Greene was responsible for broad reform of the over-burdened transportation system; the privatization of CN; the deregulation of the Canadian airline industry; and the commercialization of the Canadian port system. Reform was also her mandate when, as Director General, Policy, at Employment and Immigration Canada, Ms. Greene led the effort to overhaul the Unemployment Insurance System.


She is a Privateer through and through and the above is direct copy and paste from a Canada Post site http://www.canadapost.ca/cpo/mc/aboutus ... efault.jsf" onclick="window.open(this.href);return false;