Saturday, June 30, 2012

Royal Mail Chief Exec Scores Big Bonus Pay Day

Britain's Telegraph is reporting that the Canadian chief executive of Royal Mail, Moya Greene [shown here], received a £371,000 bonus last year, just weeks after she pushed through a record increase in the price of stamps.

According to Senior Political Correspondent Christopher Hope, "Miss Greene’s basic pay was unchanged from the year before at £498,000. However she also picked up £371,000 in a 'short term incentive plan', £38,000 in benefits and £200,000 for her final salary pension scheme."

In all, writes Hope, Greene was paid £1.1million, making her one of Britain’s highest paid public officials.

Shadow postal affairs minister Ian Murray MP is quoted in the article as saying, “At a time when the public are furious about levels of boardroom pay it is extraordinary that the chief executive of Royal Mail will be awarded such a generous and disproportionate package relative to the performance of the company."

Murray went on to say, "“This has happened just a matter of weeks after consumer stamp prices rose by up to 40 per cent, the public purse has taken on its £8billion pension fund deficit and ordinary people up and down the Country are facing a squeeze on living standards with frozen pay and higher costs.”

To read the entire article, click here.  
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posted by Don Schilling at 12:01 AM