Union “outrage” as Crozier bags £2.5m
Former Royal Mail chief executive Adam Crozier received almost £2.5m during his final year at the company. In addition to a $633,000 salary, Crozier received a $1.5m bonus for meeting long-term targets, and $206,000 in lieu of a pension. The figures were published in Royal Mail’s annual report
Crozier left in March, after serving two-months of a six-month notice period.
The Communication Workers Union (CWU) said that the payment was “outrageous”.
Dave Ward, CWU deputy general secretary, said: “Postal workers will be outraged by news of Crozier’s salary and bonus.
“Adam Crozier’s bonus came after a year in which he oversaw a national postal strike, lost the confidence of his workforce and then left before the job of modernisation and business transformation was complete.
“Postal workers will be equally horrified at the pay given to other senior executives. Adam Crozier’s pension will be the envy of postal workers whose own, much smaller, pension pots are at risk.”
Alan Cook, who left his position as managing director of the Post Office, received £1.2m, whilst Mark Higson, head of Royal Mail’s letters, was paid £1.7m.
In response, Royal Mail chairman Donald Brydon said: “These directors are running a business with a turnover in excess of £9bn in a tough marketplace and Royal Mail needs to be able to attract from the commercial market the best management talent.”
Last month it was announced that Moya Greene, Canada Post’s CEO and president, will fill Crozier’s shoes later this summer.
