Moya Greene could pick up bonus of nearly £1.4MILLION

[TrueBlueTerrier]

Royal Mail boss Moya Greene could pick up bonus of nearly £1.4MILLION this year

http://www.mirror.co.uk/money/city-news ... il-3058206" onclick="window.open(this.href);return false;

She is already guaranteed a £488,000 reward for work stretching back to 2010 - but Greene’s total pot may be swollen by a second long-term bonus due in March

Moya Greene: In the moneyMoya Greene: In the moneyPA
Royal Mail boss Moya Greene could pick up a near £1.4million bonus this year.

She is already guaranteed a £488,000 reward for work stretching back to 2010.

But Greene’s total pot could be swollen by a second long-term bonus, together with a potential annual award.

That’s on top of a salary of nearly £500,000 and a pension contribution of £200,000.

The bumper sum risks fuelling a row over how much Greene, credited with boosting Royal Mail’s fortunes, should be paid.

Royal Mail chairman Donald Brydon sparked anger when he said Greene was the “lowest paid chief executive in the FTSE 100”, and would push for a rise to ensure she stayed.

The average pay and perks package for a chief executive of one of Britain’s top 100 firms is around £4.3m. Critics say that figure shows the yawning pay gap that exists between fatcat executives and ordinary workers.

Reports suggested Business Secretary Vince Cable was ready to veto any rise in Greene’s package.

Greene will pick up £488,000 under a three-year bonus scheme that was deferred until this March.

She could also get up to the same again under a second-long term bonus at the same time, depending on performance.

That’s before an annual bonus, which was worth £399,000 last year and would take Greene’s total package past £2m.

The potential payout came as Royal Mail revealed that it handled 115 million parcels in December as it benefited from a big increase in online shopping.

The seasonal workload peaked at 10 million parcels on December 18, almost 500,000 deliveries an hour. Christmas card deliveries rose, reversing a decline for a number of years.

However, overall letter deliveries fell 5% in the final nine months of the year.

Parcel revenue jumped 8% in that time, although volumes were flat.

Group revenue rose 2%, with analysts predicting full-year profits will soar from £440m to £533m.

Unite national officer, Ian Tonks, said: “It is utterly astonishing to demand more money for Moya Greene when she is already in line for £1.4 million in bonuses alone.

“The taxpayer still owns 30% of Royal Mail. To boost her pay even more in the middle of a cost living crisis is totally unacceptable. Vince Cable must oppose this sort of corporate greed.”

[Chelseablue]

It's a right fcked up world

[UnhappyGremlin]

I don't know how she manages to survive on such a pittance.

We'd all sign a Government e-Petition for Moya's pay claim, right?

[cloherty1976]

“The taxpayer still owns 30% of Royal Mail. To boost her pay even more in the middle of a cost living crisis is totally unacceptable. Vince Cable must oppose this sort of corporate greed.”

I thought the goverment were selling there 30% share by April 2014. If so what say will they have after April? Maybe they have changed there mind on selling there shares by April..

[mark_e]

Disgusting

So what is Mr Higson going to get when he leaves?

[cloherty1976]

Disgusting

So what is Mr Higson going to get when he leaves?

I would think it would be hundreds of thousands plus

[TrueBlueTerrier]

“The taxpayer still owns 30% of Royal Mail. To boost her pay even more in the middle of a cost living crisis is totally unacceptable. Vince Cable must oppose this sort of corporate greed.”

I thought the goverment were selling there 30% share by April 2014. If so what say will they have after April? Maybe they have changed there mind on selling there shares by April..

AFAIK the government haven't said what they'll do with their 30% - its the commentators and political pundits that are guessing that they will sell it soon.

[cloherty1976]

“The taxpayer still owns 30% of Royal Mail. To boost her pay even more in the middle of a cost living crisis is totally unacceptable. Vince Cable must oppose this sort of corporate greed.”

I thought the goverment were selling there 30% share by April 2014. If so what say will they have after April? Maybe they have changed there mind on selling there shares by April..

AFAIK the government haven't said what they'll do with their 30% - its the commentators and political pundits that are guessing that they will sell it soon.

Maybe wrong but sure they announced to sell by april

[TrueBlueTerrier]

2 days ago Mr Fallon said in the HoC http://www.royalmailchat.co.uk/communit ... ng#p627314" onclick="window.open(this.href);return false;

Michael Fallon (The Minister of State, Department for Business, Innovation and Skills ; Sevenoaks, Conservative)

I can confirm, first, that the sale of Royal Mail was a success. Unlike the hon. Gentleman, I am delighted that the shares have risen in value, reflecting Royal Mail’s interim trading results and the long-overdue agreement with the union. Any decision on a sale of the remaining stake is still to be taken.

[cloherty1976]

2 days ago Mr Fallon said in the HoC http://www.royalmailchat.co.uk/communit ... ng#p627314" onclick="window.open(this.href);return false;

Michael Fallon (The Minister of State, Department for Business, Innovation and Skills ; Sevenoaks, Conservative)

I can confirm, first, that the sale of Royal Mail was a success. Unlike the hon. Gentleman, I am delighted that the shares have risen in value, reflecting Royal Mail’s interim trading results and the long-overdue agreement with the union. Any decision on a sale of the remaining stake is still to be taken.

Just tried to find what I thought I heard but can't find it. What you put on here is certainly more reliable tbt.

[pants123]

moya greene... whats £1.5 million worth to her when she will be gone in 50 years from now.... it really makes me laugh this stuff......................... Moya is only a human.. as a human you can £50 billion...... means s**t. money really means s**t... but they think and live off it...

[Judgee]

"Greene will pick up £488,000 under a three-year bonus scheme that was deferred until this March."


Sounds like she got a better bonus scheme than us and our worthless phantom shares then?

[silly suffolk]

we are all in it together. ect ect ect.

[barbario]

Vince Cable is unbelievable.