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(Alliance News) - Royal Mail PLC on Monday set out a new two-headed operational management structure with no group CEO, as the FTSE 250-listed firm presses ahead with its transformation strategy.
The parcel and letter carrier named Non-Executive Director Simon Thompson as chief executive of its UK business, effective immediately. Thomson has been a Royal Mail director since 2017. Prior to that, he was chief product officer for online grocer Ocado Group PLC, having also worked at Wm Morrison Supermarkets PLC, lender HSBC Holdings PLC, iPhone-maker Apple Inc and holiday booking platform lastminute.com.
Martin Seidenberg, the head of international arm GLS, will join the board on April 1. Seidenberg joined GLS in 2015 from German parcel firm DHL International GmbH and became GLS's CEO back in May.
Executive Chair Keith Williams will revert back to non-executive chair, and Stuart Simpson, who has been acting as interim CEO of the UK business since last May, will leave, both at the end of January.
Interim Chief Financial Officer Mick Jeavons was named permanent CFO and will join the board immediately.
"We have two excellent leaders in place for each of our businesses, focused on the opportunities which they each have to grow and succeed in the future," said Williams, who stepped in as executive chair when Rico Back resigned as group CEO back in May.
"Royal Mail in the UK is in a period of significant transition and needs to move quickly, put the customer at the heart of everything we do, and adapt our business to better serve changing customer needs. Simon has been a Non-Executive Director of the Group since November 2017 and already has significant knowledge of the Group and its operations. He also has a wealth of experience both in digital transformation and customer experience and is ideally placed to lead the opportunity to grow and expand our UK parcels business and to meet our customers' needs across both letters and parcels," Williams added.
Monday's announcement confirmed a report on Sunday by Sky News.
Royal Mail shares were marginally lower early Monday at 360.20 pence.
Separately, Post Office Ltd on Monday reported a strong trading performance during the Christmas period. It said network income from November 30 to December 27 was GBP66.3 million, up 17% from GBP56.7 million a year before. It said the week beginning December 7 was its busiest of the year, with 15.1 million customer transactions.
Post Office noted the new 11-year agreement that it has struck with Royal Mail to offer Royal Mail products through the Post Office network of more than 11,500 branches in the UK.
"Our physical presence has been vital across the UK, with customers enjoying the convenience, expert advice and safe hands that our postmasters offer, in addition to the invaluable support they have provided to local communities during the pandemic with 99% of the network remaining open," said Post Office Chief Executive Nick Read.
By Tom Waite; thomaslwaite@alliancenews.com
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