Royal Mail boss's pay dropped by £610,000 in 2013

[TrueBlueTerrier]

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Reduction partly because Moya Greene returned £250,000 housing allowance following intervention from Vince Cable

The boss of Royal Mail saw her pay drop by £610,000 last year, partly because she handed back a £250,000 housing allowance following the intervention of business secretary Vince Cable.

Moya Greene, who has been chief executive of the recently privatised postal operator since 2010, collected total pay, bonuses and pension contributions of £1.35m in the last financial year compared to £1.96m a year earlier. Her basic pay remained flat at £498,000.

Despite the reduction, her total pay was still 50 times the average £27,036 collected by her 150,000 workers. The average bonus handed to postmen and women was £514 – compared with Greene's long- and short-term bonuses of £873,000.

She was also handed 65,880 bonus shares in the company worth an additional £328,000 at Friday's share price. However, the share award is subject to conditions and will not pay out for three years.

Greene, a Canadian who joined Royal Mail from Canada Post in 2010, paid back £250,000 the company had given her to help her buy a house in the UK. The company – which was then fully owned by the state – had not sought the approval of Cable to make the additional payment, which the company said was to make up for soaring property prices in the UK compared with Canada.

Cable told Royal Mail that he would not have approved the payment if he had been aware of it. "I am pleased that this unapproved payment is being returned," he said.

Although she voluntarily repaid the money, Greene said she was "deeply offended" by the criticism over her pay and benefits.

"I took on a company in grave difficulty," she wrote in an email to a member of the public who had voiced concern over the housing payment. "I was here for a full 15 months before officials and/or ministers deigned to explain the exact basis upon which I would be paid. I had long resigned my previous position.

"The actual practise [sic] for setting and applying agreed compensation arrangements for [chief executive officers] in commercial companies involving government shareholding is hopelessly broken here," she wrote on 5 August 2013.

She did not hand back a further £100,000 of "contractual payments" she collected last year in relation to her relocation from Canada taking total benefits to £377,000.

Her benefits this year totalled £29,000 and include health insurance and return flights to Canada.

[DirtyHarry]

Awwwww, poor thing.

[k979aaa]

Gutted for her.

[dazzlin72]

How will she survive on £1.35 million?
Never mind that, I'd love to be on the so called average of £27,036!, I earned just over £21,000 last year.
Maybe if they paid out the bonuses being given to top execs, & managers to us instead as we are the cart horses at the end of the day, we might be a bit more receptive of all this extra work being expected of us!

[GT750rider]

I guess it's on here somewhere, but what was her "package" on leaving Canada Post ( in a total mess )?

[DirtyHarry]

I guess it's on here somewhere, but what was her "package" on leaving Canada Post ( in a total mess )?

Not sure, but my guess is too much.