Royal Mail chief in line for almost £1.6m pay for last year

[TrueBlueTerrier]

http://www.guardian.co.uk/uk/2013/jun/2 ... vatisation" onclick="window.open(this.href);return false;

Revelation of Moya Greene's remuneration for 2012 expected to spark storm of protest from union amid plans to privatise business


Royal Mail is steeling itself for a storm of protest from the Communication Workers Union following reports that the business is to reveal its chief executive was paid almost £1.6m last year.

Moya Greene, the Canadian-born boss of Royal Mail, earned £1.1m in 2011, but her 2012 pay package is expected to be nearly £500,000 higher thanks to an additional long-term incentive plan.

The issue is sensitive because the union is at war with management over plans to privatise the business after a long period when many postal workers have lost their jobs. Last week, the CWU revealed that more than 96% of postal workers who voted in a ballot opposed the selloff despite being promised about £1,500 in shares each as part of a flotation plan.

Royal Mail declined to comment on the speculation that Greene's payout would rise by more than 40% over the 12 months, saying it would be disclosed in the state company's yearly financial roundup.

"Executive remuneration will be disclosed in the usual way in our annual report and accounts. Awards (bonuses and long-term incentive payments) are only made following the delivery of stretching and sustainable performance," it said.A spokeswoman declined to say when the accounts would be published, or whether they would reveal any increase in Greene's basic salary, which was worth around £500,000 in 2011. On top of this, Greene earned a bonus of £370,000, £200,000 in lieu of pension, and additional "benefits" of nearly £40,000.

A long-term incentive payment based on her performance over three years would boost 2012 figures by £480,000 – if as expected the maximum is paid out. That tranche would not formally "vest" or be handed over until spring 2014. Greene, who took over in 2010, is still some way behind her predecessor, Adam Crozier, who made £2.4m in his last year in charge.

A statement from Royal Mail said: "Royal Mail has been transformed by Moya Greene in the last three years. The business was loss-making and balance sheet insolvent. Now, all our businesses are profitable and the UK is our strongest performer."

[pants123]

what a complete joke.. Moya Greene the female human being doesn't deserve it...

[pants123]

i find it really funny all this cr.p............. adam crozier suddenly turned round royal mail profits... so when Moya Greene joined the royal mail..................... royal mail was already making profit from the last puppets... crozier and leighton... so no Moya Greene has not turned the company around ...................... more lies again, and corruption...

[worktotime]

i find it really funny all this cr.p............. adam crozier suddenly turned round royal mail profits... so when Moya Greene joined the royal mail..................... royal mail was already making profit from the last puppets... crozier and leighton... so no Moya Greene has not turned the company around ...................... more lies again, and corruption...

its all the money non payment of o/t , p and loop , pay rise etc , more walk collapseing to save, I don't no how she gets away with it , f***ing crooks.

[Dan2000]

Well done Moya its all that working together that's made us great again .We have had 4 OPGS over 60 finish in 6 months because of methods as they found the work load to much. I would love to see some of the fat cats try and do the delivery in our office for a month or 2 .I now know what the new trolleys are for to carry there £1.6 m around WELL DONE.

[DirtyHarry]

If I saw that Moya Greene across my road, I'd yell as loud as I could.........'OI!!! STOP THIEF!!!!!!!

[scoobydo79]

ohhh So thats what they are going to use our colleague share money for.Do the decent thing and give it to the staff who have earnt it Moya!!!!!

[TrueBlueTerrier]

ohhh So thats what they are going to use our colleague share money for.Do the decent thing and give it to the staff who have earnt it Moya!!!!!

It would work out at £10 each total.

[scoobydo79]

ohhh So thats what they are going to use our colleague share money for.Do the decent thing and give it to the staff who have earnt it Moya!!!!!

It would work out at £10 each total.

The amount (10 Quid) isnt important. Its the fact that we were deceived.

[superports]

A statement from Royal Mail said: "Royal Mail has been transformed by Moya Greene in the last three years. The business was loss-making and balance sheet insolvent. Now, all our businesses are profitable and the UK is our strongest performer."


So why privatise it then?

[cloherty1976]

To make more money and the government won't have to put more Money in for investment or put money in when we make losses.

[Judgee]

What exactly has she done since taking over? As far as I can see all she has done is carry on with what was started prior to her arrival? So she gets a whacking great bonus for changing.....nothing?

Is there anything at all that she has changed/implemented she she started I really can't think of anything???

[clashcityrocker]

Is there anything at all that she has changed/implemented she she started I really can't think of anything???

Changed the amount we get paid for delivering DSA.

[spoodoo]

This just strengthens the bad feelings towards our once great company. We're so getting shafted. .

[spoodoo]

Enjoy our share money missus , rem karma ,,,