Head of Royal Mail paid £2 million

The head of the Royal Mail, parent company of the Post Office Ltd is being paid £2 million, reports the Guardian.

Royal Mail’s chief executive, Adam Crozier, will receive a near-£2m payment this summer under the company’s long-term incentive plan, according to the annual report published yesterday…

Billy Hayes, general secretary of the Communication Workers Union, said: …”This is an outrageous use of public money at a time when post offices and other Royal Mail offices are closing and postal services are being cut back. Adam Crozier is again being rewarded for managing decline instead of improvement in the company. This is a massive insult to Royal Mail employees and the public…”

Royal Mail’s chairman, Allan Leighton, defended the payout. “The payment covers three years during which the group, led by Adam and the team, has consistently exceeded expectations and met all the targets set by the shareholder…”