The Royal Mail Board and Rico Back have agreed he will step down as Group CEO, and from the Group Board, with immediate effect. Keith Williams becomes interim Executive Chair of Royal Mail Group and Stuart Simpson becomes interim CEO of Royal Mail (UKPIL).
The CWU haven’t been fans of Rico Back as he doesn’t appear to have personally engaged with them to any great extent, so much so that when they suggested 10 questions for postal workers to ask management their final question was “Where is Rico Back?”. This was in stark contrast to previous CEO Moya Greene, who brokered a period of peace with the CWU which saw many years without what had become biennial strikes. They certainly aren’t regretting his abrupt departure.
“The change of CEO by Royal Mail Group must now bring about a total change in strategy and direction. Postal workers have been outstanding during this pandemic and are ready to embrace innovation, new products and building on their role in every community in the UK. It is absolutely critical that the new CEO wants to work with the CWU to overcome the challenges we all face and deliver the postal service the public and our members deserve.”
– CWU Spokesperson
Rico Back leaves Royal Mail in a time of crisis with posties working harder than ever with unprecedented volumes during the pandemic, but year on year revenue was down £22 million in April. No bonuses will be paid to Executive Directors for 2019-20. Around £25 million has been set aside for cash awards for frontline staff, in recognition of their role during COVID-19.
The Board and Rico Back have agreed he will step down as Group CEO and from the Group Board with immediate effect, and leave Royal Mail on the 15th of August 2020.
“Rico Back has made a significant contribution to the evolution of our business over his 20 years with us, particularly in building our international parcels business and developing our Group strategy, which recognised the urgent need for change to create a sustainable business for the future. On behalf of the Board, I would like to extend my thanks to Rico and wish him well in the future.”
– Keith Williams, Chair, Royal Mail plc
“It has been a privilege to lead a Company that is so much a part of UK life at this crucial time in its history. I am proud of what I, together with our dedicated and loyal team, helped to build in Royal Mail and GLS. I look forward to seeing Royal Mail transform into a parcels-led, international delivery company, that continues to touch the lives of millions across the world.”
– Rico Back, Group CEO, Royal Mail plc
8 Responses
Thank god for that, what a disaster this guy has been, he has just made things worse and worse.
There is legacy issues (going to take give and take on both sides union and staff are not going to get it all there way), but this guy was not the one to deal with them everytime he opens his mouth the share prices plummets for one and the staff seem to get more angry and the service is in constant decline.
As someone who uses RMG a lot like many of us, I also invested a lot in there shares never sold a thing since 2013 this guy cost a small fortune.
Royal Mail should be booming in this day and age, but it just loses more and more ground every year.
Am sure he will get a golden parachute for failing however.
Terrible CEO. Good riddance!
Revenue is down for a reason – Greed – Continual price increases, Delivery once a day not including Sundays and i don’t see those extra profits going to the people that do the important work. Hermes offers a postal service 7 days a week and all day delivery along with better postage weights and costs. Its a no brainer why RM is losing money and will continue to do so. They need a radical change but I doubt anything will change
Anyone who has not read the Private Eye report into the Fujitsu Horizon IT system and how the PO utterly failed its best local supporters, I commend you to it… some of the most thorough investigative journalism you will find in the UK, and utterly missed by the main papers, Covers many pols from all parties in terrible shame.
So nearly half of all adults are receiving parcel deliveries through Royal mail yet they tell us the people on the front line (postmen and women) they’re not making money profits are down,WER’E DOING OUR JOB why aren’t royal mail top bosses doing theirs sack them all and get somebody in charge who knows about delivery structure maybe an ex postman or manager whose been a postman! Just a thought ?