May 15, 2020

Coronavirus: Royal Mail boss Rico Back in surprise exit

AFP The boss of Royal Mail is leaving after less than two years in the role amid reports he has been running the business from his home in Switzerland. The Royal Mail said he was "Following government advice to work from home unless you cannot". Royal Mail has seen a sharp fall in letter volumes since the coronavirus lockdown was introduced in the UK on 23 March. Royal Mail said it had invested in safety equipment and said the costs of running its UK postal service had risen by £40m "Driven by overtime and agency resource costs due to high levels of absence, the introduction of social distancing measures and PPE". Mr Back - who was given a £6m "Golden hello" from Royal Mail when he took on the role in 2018 - has been put on gardening leave until 15 August, during which he will receive his pay and benefits.

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