The former chairman of the Post Office twice asked for boss Nick Read’s pay to be doubled, MPs heard on Wednesday.
Henry Staunton was trying to prevent Mr Read from quitting the scandal-hit organisation.
However, the requests were refused, Post Office minister Kevin Hollinrake said in response to an urgent question in the House of Commons.
However, the requests were refused, Post Office minister Kevin Hollinrake said in response to an urgent question in the House of Commons.
Nick Read became chief executive of the Post Office in 2019 as the organisation dealt with the fall-out and declining revenues.
The latest figures show his salary for 2022-23 stood at £573,000, including bonuses.
The year before, he earned £816,000, of which £415,000 was salary and the rest bonus. This does reflect the fact he agreed to repay a £54,500 portion of his bonus that was linked to the Post Office’s participation in the official inquiry.
In the year 2020-21, he did not get a bonus, and was paid £415,000.
Even without being doubled, this salary looks high compared with the annual median UK wage of £34,963, while the average takings for sub-postmasters is lower.
The former chairman of the Post Office twice asked for boss Nick Read’s pay to be doubled, MPs heard on Wednesday.
However, the requests were refused, Post Office minister Kevin Hollinrake said in response to an urgent question in the House of Commons.
Henry Staunton was trying to prevent Mr Read from quitting the scandal-hit organisation.
Nick Read became chief executive of the Post Office in 2019 as the organisation dealt with the fall-out and declining revenues.
However, the requests were refused, Post Office minister Kevin Hollinrake said in response to an urgent question in the House of Commons.
However, the requests were refused, Post Office minister Kevin Hollinrake said in response to an urgent question in the House of Commons.
Nick Read became chief executive of the Post Office in 2019 as the organisation dealt with the fall-out and declining revenues.
The latest figures show his salary for 2022-23 stood at £573,000, including bonuses.
The year before, he earned £816,000, of which £415,000 was salary and the rest bonus. This does reflect the fact he agreed to repay a £54,500 portion of his bonus that was linked to the Post Office’s participation in the official inquiry.
In the year 2020-21, he did not get a bonus, and was paid £415,000.
Even without being doubled, this salary looks high compared with the annual median UK wage of £34,963, while the average takings for sub-postmasters is lower.
#Post #Office #sought #double #pay #chief #executive
Note:- (Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor. The content is auto-generated from a syndicated feed.))
