20 Dec 2016 12:00
Royal Mail plc
Directorate Change
20 December 2016
Matthew Lester to step down in July 2017 as Chief Finance Officer of Royal Mail plc
Matthew Lester has today informed the Board of Royal Mail plc (the Company) of his intention to step down as Chief Finance Officer (CFO) of Royal Mail plc (RMG.L) and leave the Board following the Company's Annual General Meeting in July 2017. He will not be standing for re-election at that time.
Matthew joined Royal Mail as CFO in autumn 2010. He has worked closely with Moya Greene, CEO, during a period of major change - pre and post privatisation - and strengthened Royal Mail's financial position. Matthew is staying on beyond his contractual notice period to enable an orderly succession. The Company will be initiated a process to appoint Matthew's successor and will consider both internal and external candidates.
Matthew Lester, CFO, said: "I have enjoyed my six or so years here a great deal. I am grateful for the wonderful support I have had from the Board and senior management team, in particular Moya Greene, and now it is time for a change. I don't yet know what that entails and I am open-minded about my next move."
Moya Greene, CEO, said: "It has been my pleasure to work closely with Matthew during one of the most transformative periods in Royal Mail's history. He leaves our Company stronger and better placed to build upon its leading position in UK letters and parcels. I look forward to continuing to work closely with Matthew until next summer. It has been an outstanding partnership."
Peter Long, Chairman, said: "Matthew has made a very considerable contribution to our business, across a wide range of areas. I am pleased that we will continue to benefit from his counsel and commitment until next summer. Moya and I join the Board in offering him our sincere thanks."
This announcement is made in accordance with Listing Rule 9.6.11 and contains inside information.
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Media:
Beth Longcroft
Phone: 07435 768 549
Email: beth.longcroft@royalmail.com
Company Secretariat:
Kulbinder Dosanjh
Phone: 020 7449 8133
Email: cosec@royalmail.com
Investor Relations:
Catherine Nash
Phone: 020 7449 8183
Email: investorrelations@royalmail.com
Notes to editors:
Matthew Lester: Matthew Lester joined Royal Mail as Chief Finance Officer in autumn 2010. Prior to joining Royal Mail, Matthew was Group Finance Director at ICAP plc., and prior to that, Group Financial Controller and Group Treasurer, Diageo plc. He has also held positions at Kleinwort Benson after qualifying as a chartered accountant with Arthur Andersen. Matthew is currently Non‑Executive Director of Man Group plc and Chair of its Audit & Risk Committee. He is also a main committee member of the 100 Group of Finance Directors and Chairman of its Investor Relations and Markets Committee.