Royal Mail CEO Moya Greene to step down

Royal Mail said on Friday that its chief executive officer Moya Greene will retire in September after more than eight years in the role.

Rico Back will assume the role of group CEO and join the board on 1 June, following the announcement of the 2017-18 results.

Back, who has nearly 30 years of experience as a senior executive in the international parcels industry, has been a senior executive and CEO of Royal Mail's major European subsidiary, General Logistics Systems, for 18 years. He was a founding member of German Parcel in 1989, which Royal Mail bought in 1999. This business was subsequently rebranded as GLS.

Chairman Peter Long said: "Under Rico's leadership, GLS has become the leading delivery company of its kind in Europe, making a highly valuable contribution to the wider Royal Mail Group at the same time.

"The board believes that Rico's track record, his strong commercial acumen and his deep understanding of the delivery industry mean he is ideally placed to lead Royal Mail."

Chief operations officer Sue Whalley will become CEO of post and parcels for Royal Mail UK, which consists of all the revenue and operations in the UK, other than Parcelforce Worldwide and Royal Mail International.

Long said: "Alongside Rico's appointment as Group CEO, I am delighted to welcome Sue to our board. Sue is leading the very important transformation of our UK business. She took the principal role in negotiating the operational aspects of our recent agreement with the CWU and is leading on the implementation of all aspects of it."