May 15, 2020

Royal Mail chief Rico Back steps down

Royal Mail said that chief executive Rico Back has agreed to step down with immediate effect after less than two years in the job. Chairman Keith Williams, the former chief executive of British Airways, will lead Royal Mail in an interim executive role while the company looks for a permanent replacement. Royal Mail also said it would pay frontline workers a bonus of up to £200 to recognise their efforts during the coronavirus pandemic. The one-off payment to staff who have been at work throughout the crisis will cost about £25m, while top executives will forgo bonuses this financial year, the company added. Get alerts on Royal Mail PLC when a new story is published.

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