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Royal Mail: No Wonder It's Failing!
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Yet more astronomical figures for salary and other expenses for the boss of a government owned company.
And how/why was she allowed expenses towards flights to Canada? As she's earning enough and now in charge of a company in this country, did she really need or deserve the extra help?
Yet more astronomical figures for salary and other expenses for the boss of a government owned company.
And how/why was she allowed expenses towards flights to Canada? As she's earning enough and now in charge of a company in this country, did she really need or deserve the extra help?
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'Additional assistance'
Apart from her basic salary for 2012-13, Canadian-born Ms Greene received £200,000 in lieu of a pension, £399,000 under a short-term incentive plan and £127,000 in contractual benefits, including medical insurance and return flights to Canada.
She was also paid £250,000 as an exceptional payment, described in the report as "additional assistance on the purchase of a home". This was offered "given the difference in residential costs between the UK and Canada".
After tax, this amounted to £120,000. This is the sum that Ms Greene is now repaying.
A Department for Business spokeswoman said Mr Cable had been "annoyed" when he learned of the payment and had "asked for and got a full apology from the chairman" of Royal Mail.
Mr Cable said the payment was "unapproved" and he was pleased that it was being returned.
"The company acted quickly to rectify the situation," he added.
"A mistake was made in not seeking my approval - I would not have approved it. The chairman is sorry. The payment is being returned. I now regard the matter closed."
Royal mail would have to sell quite a few stamps to cover that !.
Apart from her basic salary for 2012-13, Canadian-born Ms Greene received £200,000 in lieu of a pension, £399,000 under a short-term incentive plan and £127,000 in contractual benefits, including medical insurance and return flights to Canada.
She was also paid £250,000 as an exceptional payment, described in the report as "additional assistance on the purchase of a home". This was offered "given the difference in residential costs between the UK and Canada".
After tax, this amounted to £120,000. This is the sum that Ms Greene is now repaying.
A Department for Business spokeswoman said Mr Cable had been "annoyed" when he learned of the payment and had "asked for and got a full apology from the chairman" of Royal Mail.
Mr Cable said the payment was "unapproved" and he was pleased that it was being returned.
"The company acted quickly to rectify the situation," he added.
"A mistake was made in not seeking my approval - I would not have approved it. The chairman is sorry. The payment is being returned. I now regard the matter closed."
Royal mail would have to sell quite a few stamps to cover that !.
Sadly indicative of the behaviour of many company high fliers, honesty and integrity seem to disappear out the window when perks 'open to interpretation' come in the door, similar to some MPs and their expenses. Actually abuse of expenses is evident in far lower paid staff too (I'm in Civil Service, I see it all the time).
Minor quibble- Royal Mail is actually profitable,as I understand it, returning a nice little earner to the public purse.
Other than that, could not agree more. Some of the salaries and perks and pension plans and all the rest of it border on the obscene.
The argument goes that you need to match private sector wage packets in order to get the best people for the job. I disagree, and I really think most private sector companies ought to be looking again very closely at its salary and remuneration schemes. As a shareholder in several companies, I know I would like them to reject some of the more egregiously greedy board remuneration packages and pay out a bit more in dividends...
Other than that, could not agree more. Some of the salaries and perks and pension plans and all the rest of it border on the obscene.
The argument goes that you need to match private sector wage packets in order to get the best people for the job. I disagree, and I really think most private sector companies ought to be looking again very closely at its salary and remuneration schemes. As a shareholder in several companies, I know I would like them to reject some of the more egregiously greedy board remuneration packages and pay out a bit more in dividends...
Fancy that, jno being contrary in anything I post. Whodathunkit!
Very well, have it your way. She's a thoroughly decent individual, the very model of a CEO, someone the rank and file of Royal Mail can admire and aspire to and her trips to and fro to Canada were obviously something she truly deserved, along with help in buying a property here.
It must have been a wrench to leave Canada and a struggle to settle here but I'm sure she's now over the worst.....
Very well, have it your way. She's a thoroughly decent individual, the very model of a CEO, someone the rank and file of Royal Mail can admire and aspire to and her trips to and fro to Canada were obviously something she truly deserved, along with help in buying a property here.
It must have been a wrench to leave Canada and a struggle to settle here but I'm sure she's now over the worst.....
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It does not matter what the Government ministers earn, it does not matter what these chair person earn, they will get it make no mistake about it, Why?
because the people of Britain have not got the fecking balls to do anything about it only moan. Have a nice day & keep checking the news! Why?
because the people of Britain have not got the fecking balls to do anything about it only moan.
because the people of Britain have not got the fecking balls to do anything about it only moan. Have a nice day & keep checking the news! Why?
because the people of Britain have not got the fecking balls to do anything about it only moan.
sorry for the confusion then, ChillDoubt. But yes, I can't see anything to accuse her of. She went by the book, and that's all you can expect of anyone. I always claimed what I was entitled to under my own contract; though I suppose others may seflessly refuse to take what they contracted for. There seems to have been provision for a relocation allowance in her contract, which is common enough in these cases. If they didn't want to include it they could have offered the job to somebody else.
Mikey, they've just hired a Canadian to run the Bank of England. I presume the reason is that they were thought the best people for the job, rather than just to annoy the locals.
Mikey, they've just hired a Canadian to run the Bank of England. I presume the reason is that they were thought the best people for the job, rather than just to annoy the locals.
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