Royal Mail chief could be set for bumper pay increase

Post by **TrueBlueTerrier** » 03 Jun 2016, 16:59

http://www.belfasttelegraph.co.uk/busin ... 70594.html" onclick="window.open(this.href);return false;?

Under the new policy, detailed in the firm's annual report, Ms Greene's total pay packet could rise to a maximum of £2.4 million. Ms Green was paid £1.5 million last year.

On a like for like basis, the maximum amount Ms Green can be awarded has risen by £581,000, from £1.8 million to £2.4 million.

The increase is linked to the introduction of a deferred share element in the company's executive pay structure. Overall, the pay deal would consist of a base salary, annual bonus, a deferred share award and a long term incentive plan.

Orna Ni‑Chionna, chair of Royal Mail's remuneration committee, said: "We want to create a reward structure that appropriately balances the importance of short‑term delivery with the creation of long‑term sustainable value."

Shareholders will vote on the pay plan at Royal Mail's AGM in July.

Under Ms Greene, the 500-year-old company - which was privatised in 2013 - has embarked on an ambitious cost-cutting drive, reducing its headcount by 3,500 last year.

Last month, Royal Mail said full-year pre-tax profits slumped 33% to £267 million as it took a hit from transformation costs.

However, adjusted annual operating profits before transformation costs - Royal Mail's preferred measure of performance - rose 5% to £742 million.

Post by **midegarelu** » 03 Jun 2016, 17:16

Not 1.6% with strings then?

brazil1212 · Post by **brazil1212** » 03 Jun 2016, 17:58

That about a 20% pay rise would be nice if we got that

pants123 · Post by **pants123** » 03 Jun 2016, 18:33

rubberbond · Post by **rubberbond** » 03 Jun 2016, 19:43

TrueBlueTerrier wrote:http://www.belfasttelegraph.co.uk/busin ... 70594.html?

Under the new policy, detailed in the firm's annual report, Ms Greene's total pay packet could rise to a maximum of £2.4 million. Ms Green was paid £1.5 million last year.

On a like for like basis, the maximum amount Ms Green can be awarded has risen by £581,000, from £1.8 million to £2.4 million.

The increase is linked to the introduction of a deferred share element in the company's executive pay structure. Overall, the pay deal would consist of a base salary, annual bonus, a deferred share award and a long term incentive plan.

Orna Ni‑Chionna, chair of Royal Mail's remuneration committee, said: "We want to create a reward structure that appropriately balances the importance of short‑term delivery with the creation of long‑term sustainable value."

Shareholders will vote on the pay plan at Royal Mail's AGM in July.

Under Ms Greene, the 500-year-old company - which was privatised in 2013 - has embarked on an ambitious cost-cutting drive, reducing its headcount by 3,500 last year.

Last month, Royal Mail said full-year pre-tax profits slumped 33% to £267 million as it took a hit from transformation costs.

However, adjusted annual operating profits before transformation costs - Royal Mail's preferred measure of performance - rose 5% to £742 million.

WHat has she done to deserve it? Not a lot from where I am standing. Yet again we are facing cuts in delivery offices that long ago got rid of any fat and are into bone cutting territory and she is being lined up for a huge pay rise. It beggars belief.

daveyeff · Post by **daveyeff** » 03 Jun 2016, 20:36

no wonder posties are bitter. f*****g insult to us all that is. what union is SHE in? I want to join THAT one.

pants123 · Post by **pants123** » 04 Jun 2016, 04:12

borgpicard · Post by **borgpicard** » 04 Jun 2016, 10:33

And all we get is shafted, and cost cutting, no wonder shes given so much,

Post by **TrueBlueTerrier** » 04 Jun 2016, 12:17

Do I really have to remind people that Royal Mail managers lurk on here, and they will report you for disciplinary action if you step across the bounds of what you can and can't post.

Using expletives on this thread in a personal way is a sure way to jump suspension and go straight to dismissal. I know people are angry, but don't put your employment in jeopardy.

Mr Rush · Post by **Mr Rush** » 04 Jun 2016, 19:15

The most outrageous expletive here is the unsaid one emanating from the highest level of this company.

Post by **trythat** » 04 Jun 2016, 19:41

Well I'll be voting again at the AGM for her not to have a pay rise, not that it will make much difference apart from me feeling better

Post by **aiden01** » 04 Jun 2016, 20:47

does anyone think moya really care,s about us poor posties?

k979aaa · Post by **k979aaa** » 04 Jun 2016, 21:56

aiden01 wrote:does anyone think moya really care,s about us poor posties?

And Poor posties we are in economic terms but one day the workers will rise and the meek shall inherit the earth and those who oppress the workers will befall their fate at the hands of a new order!

DirtyHarry · Post by **DirtyHarry** » 05 Jun 2016, 09:55

It's always the least productive element within a company like Royal Mail, that get paid obscene amounts of money.
Meanwhile, we....The most productive cog in the Royal Mail machine get peanuts in comparison. Just so, so, wrong.

Grinder64 · Post by **Grinder64** » 05 Jun 2016, 10:18

I wonder if we'll ever see The Leader's pay scale being presented and used as a motivational tool during WTL sessions?