RM new chief executive gets political stamp of approval

[TrueBlueTerrier]

http://www.telegraph.co.uk/finance/news ... roval.html" onclick="window.open(this.href);return false;

Donald Brydon and Vince Cable have praised the "experience" and "energy" of Moya Greene after the Canadian was confirmed as the new chief executive of Britain's postal service.

Ms Greene will join Royal Mail from Canada Post, where she is chief executive, in the middle of July. She will become the first woman and foreigner to lead the organisation.

The 56 year-old, who replaces Adam Crozier, the new chief executive of ITV, will immediately face a series of major challenges at Royal Mail. These include a structural decline in the number of letters being posted, a pension deficit of more than £10bn, and fierce union opposition to Government plans to part-privatise the group.

Ms Greene, who has headed Canada Post since May 2005, is expected to receive a base salary of just under £500,000. Mr Crozier was paid £633,000.
Mr Brydon, the chairman of Royal Mail, said: "I am delighted that Moya is joining Royal Mail. She will bring energy, clear thinking and a proven leadership track record – as well as hugely relevant experience – to the business at an important moment in its evolution."

The Government had to clear the appointment of Ms Greene and her salary, but Mr Cable, the Business Secretary, welcomed the diversity she would bring to the boardroom.

Alongside the announcement about the chief executive, Royal Mail brought in two more women to the board as non-executive directors. Orna Ni-Chionna, a non-executive director at Northern Foods and HMV, and Cath Keers, of O2-owner Telefonica, will join the business as Mr Brydon seeks to bolster the board.

Mr Cable said: "Moya Greene will bring dynamism, strong leadership and a valuable mix of experience to Royal Mail, which has some big challenges, as I discussed with Donald Brydon.

"Britain has too few women at the top of companies and our boardrooms will benefit from a better gender mix in senior positions."
In a separate statement yesterday, regulator Postcomm said it was proposing to remove price controls on parcels weighing more than 750g and pre-sorted bulk mail.

While this would allow Royal Mail to increase revenues by up to £75m, it could lead to an increase in the price of postage stamps for regular letters of 2pc above inflation.

[DirtyHarry]

"Experience," "energy", what a load of crap.