RE: Terminal decline..7 Jun 2023 09:22
I thought he was worth the big bucks Oli. You neglected to mention his successful background:-
Back was a controversial figure during his tenure at Royal Mail, and stepped down in May 2020 following criticism over a £6m deal to buy out his old contract at subsidiary GLS, and his decision to remain in Switzerland during the height of the Covid-19 crisis.
In an interview with the Sunday Times last weekend, Back criticised the current board and Royal Mail CEO Simon Thompson for wasting time and not executing effectively in its negotiations with the CWU.
The CWU jumped on his remarks and tweeted: “Rico Back was no friend of the CWU when he was Royal Mail Group CEO. That is why his intervention today is so crucial.”
The Sunday Times piece said that Back also noted that Thompson, who took over as CEO two years ago from online grocer Ocado, had not run a large company before and did not know the logistics industry. “Both together is a toxic mixture,” Back said.