RE: Industrial Action8 Sep 2022 12:06
Cont....
We also believe that these talks include a plan to undermine and ultimately abandon the Universal Service Obligation (USO), which the company sees as a hindrance, rather than an advantage and a key benefit to the consumer. These changes represent nothing more than a "levelling down" agenda for the company with the ambition being to maximise profit by turning Royal Mail into just another gig economy employer. On the question of the USO, we would also like you to clarify if there have been any approaches by the company to you or your department regarding changes to USO service standards and/or regulatory issues.
Given what is at stake in these discussions, we are very concerned about the undue influence of a billionaire-controlled equity firm on the existing leadership of Royal Mail Group.
The CWU is unequivocal in our stance against this potential takeover - it is against the interests of the workers and the public. We urge you to confirm that you will take every step necessary to ensure that shareholders are not unduly or duplicitously influenced by VESA Equity, or by the senior leadership of Royal Mail, as part of your review into the ongoing discussions.
Surely, it cannot be right if members of the existing Board, including the Chair Keith Williams and CEO Simon Thompson, are allowed to put forward their view on the takeover, if they or other Board members, as appears likely, have already been engaged in secret discussions to facilitate this.
We would also like you to investigate whether these talks amount to insider trading and whether Board members have received or are due to receive additional benefits if the takeover goes ahead. We make this point because of information circulating from the UK markets, where it appears that the two CEO's (RMG and GLS) and the Chief Operating Officer, have just received additional shares worth close to a £1 million each.
Given the nature of your investigation we are also asking for an explanation of how and when this will be conducted and whether the union will have the opportunity to give evidence to it.
Due to the urgency and importance of all of the issues outlined above, I am requesting that we meet as soon as possible to elaborate on our concerns and hopefully receive the assurances from you that the workforce and the public deserve.
I look forward to your prompt reply.
Yours sincerely
Dave Ward
General Secretary