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Moya Greene to retire from Royal Mail, Rico Back to be successor

By Chris Dawson April 20, 2018 - 9:00 am

After more than 8 years at the helm of Royal Mail, Moya Greene and the Royal Mail board have agreed that that she will retire in September 2018.

“Royal Mail was highly fortunate to recruit Moya, given her direct experience, strategic vision, drive and proven track record across a range of industry sectors.

“When Moya joined in the summer of 2010, the Company was balance sheet insolvent. Since then, Royal Mail has been transformed, including our privatisation in 2013 and two significant, ground-breaking agreements with the CWU. Alongside the strong financial position Moya has secured for the Company, we have invested over £1.5 billion in our UK operation in recent years. We are one of the most favourably viewed brands in the UK.

“I would like to extend to Moya our sincere thanks for her tremendous contribution during a defining time for us.”
– Peter Long, Chairman, Royal Mail

It has been confirmed following rumours that Rico Back will assume the role of Group CEO of the Company and join the Board on the 1st of June 2018, which will be after the announcement of the 2017-18 Results. His appointment follows a search led by Peter Long in his role as Chair of the Nomination Committee.

Sue Whalley was appointed Chief Operations Officer in 2014 and, subsequently, Managing Director of Royal Mail Letters and Network. Sue will become Chief Executive Officer of Post and Parcels, Royal Mail UK, which consists of all the revenue and operations in the UK, other than Parcelforce Worldwide and Royal Mail International.

Moya Greene will step down from the Board on 19 July 2018, the date of the Company’s AGM. She will not be standing for re-election at the AGM. She will remain at the Company until 14 September 2018 in order to provide advice and counsel, working closely with Rico to ensure an orderly handover. Following her departure, Moya will pursue a range of other interests, including developing her portfolio career. She is a non-executive at Easyjet plc. and a Trustee of Tate. Moya will, as previously announced, become a non-executive director of Rio Tinto, a global mining group, in the second half of 2018.

Rico has been a senior Royal Mail Group executive and CEO of their major European subsidiary, General Logistics Systems (GLS), for 18 years. He was a founding member of German Parcel in 1989, which Royal Mail acquired in 1999. This business was subsequently rebranded as GLS and under Rico’s leadership, it is now the leading ground-based deferred parcel company in continental Europe. Rico has nearly 30 years’ experience as a senior executive in the international parcels industry.

“It has been my pleasure and a great privilege to serve as CEO of this cherished UK institution. I am proud of what we have achieved over the last eight years. It is very pleasing to note that around 20 per cent of this Company is owned by our employees and retail shareholders. Most of all, I am honoured to have worked alongside Royal Mail’s people and the union leadership. It is their hard work and dedication that connects households, communities and companies across the UK every day. I would like to warmly congratulate Rico and Sue, two colleagues with whom I have had the privilege of working closely with for many years.”
– Moya Greene, CEO, Royal Mail

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