TIDMRMG
RNS Number : 2543B
Royal Mail PLC
19 September 2018
Royal Mail plc
19 September 2018
Peter Long steps down as Chairman of Royal Mail and is succeeded
by Les Owen
Royal Mail plc (RMG.L) today announces that Peter Long has
informed the Company of his decision to step down from the Board
and this will take place with immediate effect.
Peter joined the Board in June 2015 and was appointed Chairman
in September 2015. This year, his commitments have increased
substantially, as he moved from non-executive to executive chairman
at Countrywide plc. That commitment will remain in place for the
foreseeable future.
On that basis, Peter has reviewed his Board appointments and
concluded it is no longer possible for him to remain executive
Chairman of Countrywide and non-executive Chairman of Royal
Mail.
Peter has led the Board through a time of major change for Royal
Mail, including ongoing transformation, industrial relations
agreements with the unions and the expansion of the international
business. He has refreshed the Board and overseen the succession
planning, appointment and transitioning of the Chief Finance
Officer, Stuart Simpson, and the Group Chief Executive Officer,
Rico Back.
Peter Long, Royal Mail plc, said: "It is with a heavy heart that
I step down from the Royal Mail Board. Over my three years as
Chairman, I have taken great pride in what has been achieved by the
Group. It is a Company with an incredible heritage. Operating in a
challenging environment, it is positioning itself well for
diversified growth under the leadership of Rico Back and his
executive team. I wish all my Royal Mail colleagues every success
in the future."
Orna Ni-Chionna, Senior Independent Director, Royal Mail plc
said: "I would like to thank Peter for his strong leadership of the
Board over the past three years. We understand why he has chosen to
step down at this time and we wish him all the best. We are
fortunate to have an individual of Les Owen's calibre and
experience to step into the Chairman's role with immediate effect.
Les has a deep understanding of our business and the challenges we
face."
Appointment of Les Owen
The Board has appointed Les Owen, a highly experienced Royal
Mail Board member, as Chairman with immediate effect, thus
providing continuity. Orna Ni-Chionna will review our Board
succession arrangements, including for the Chair, in line with the
requirements of the UK Corporate Governance Code.
Les Owen joined the Royal Mail Board in 2010 and has been a
member of the Audit & Risk Committee and the Remuneration
Committee. He chaired the Pensions Committee during the key review
of Royal Mail's pension arrangements.
Les has significant experience as a senior executive in a listed
company environment. He was previously Chief Executive Officer of
AXA Sun Life and AXA Asia Pacific Holdings. More recently, he has
been a non-executive director of a number of listed companies in
the UK, Australia and South Africa.
Les Owen, Chairman, Royal Mail plc, said: "I would like to thank
Peter for his significant contribution over the past three years. I
look forward to working with Rico and my Board colleagues as we
focus on implementing our strategy in the UK and overseas."
This announcement is made in accordance with Listing Rule 9.6.11
and contains inside information.
-ends-
Notes to editors:
About Peter Long: Peter Long was appointed to the Board as
non-executive Director and Chairman-designate on 18 June 2015. He
became Chairman on 1 September 2015. Prior to joining Royal Mail,
Peter had over 20 years' experience in FTSE 100, customer-focused
companies. From 2007 to 2014, he was Chief Executive of TUI Travel
PLC and from 1996 to 2007 he served as Group Managing Director and
then Chief Executive of First Choice Holidays PLC. Prior to joining
First Choice he was Chief Executive of Sunworld and the travel
division of International Leisure Group. His past Non-Executive
Directorships include RAC plc, Rentokil Initial PLC, where he was
the Senior Independent Director and Debenhams PLC.
Peter Long receives a fee of GBP300,000 per annum. As
Non-Executive Chairman, Peter is not entitled to participate in any
variable incentive or benefits arrangements. Peter Long will not
receive any additional payments when he steps down from the
Board.
About Les Owen: Les Owen was appointed to the Board in 2010. He
has extensive experience of working in international listed
companies in the financial, pensions and insurance sectors. Prior
to joining Royal Mail, Les was Group Chief Executive Officer of AXA
Asia Pacific Holdings Ltd. a member of the Global AXA Group
Executive Board and responsible for AXA's Asian Life Insurance and
Wealth Management operations, Chief Executive Officer of AXA Sun
Life plc., Non-Executive Director of Post Office Limited,
Non-Executive Director of Just Retirement Group plc and
Non-Executive Director of CPP Group plc. Les is currently
Non-Executive Director of Computershare, but, as previously
announced, will be stepping down in November 2018. He is
Non-Executive Director of Discovery Holdings, a South African
listed health and life insurer.
Les will receive a fee of GBP300,000 per annum. As non-executive
Chairman, Les is not entitled to participate in any variable
incentive or benefits arrangements.
Royal Mail plc
Company Secretariat
Kulbinder Dosanjh
Phone: 020 7449 8133
Email: cosec@royalmail.com
Investor Relations
Catherine Nash
Phone: 020 7449 8183
Email: investorrelations@royalmail.com
Media Relations
Beth Longcroft
Phone: 07435 768 549
Email: beth.longcroft@royalmail.com
Shane O'Riordain
Phone: 07770 544 585
Email: shane.oriordain@royalmail.com
LEI 213800TCZZU84G8Z2M70
About Royal Mail plc
Royal Mail plc is the parent company of Royal Mail Group
Limited, the leading provider of postal and delivery services in
the UK and the UK's designated universal postal service provider.
UK Parcels, International & Letters (UKPIL) comprises the
company's UK and international parcels and letters delivery
businesses operating under the "Royal Mail" and "Parcelforce
Worldwide" brands. Through the Royal Mail Core Network, the company
delivers a range of parcels and letters products, including the
one-price-goes-anywhere Universal Service products. Royal Mail has
the capability to deliver to more than 30 million addresses in the
UK, six days a week (excluding UK public holidays). Parcelforce
Worldwide operates a separate UK network which collects and
delivers express parcels. Royal Mail also owns General Logistics
Systems (GLS) which covers 41 countries and nation states in
Europe, eight states in the Western U.S. and in Canada. GLS
operates one of the largest ground-based, deferred parcel delivery
networks in Europe.
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END
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