Year: 2006

The new boss of Britain’s post office network expects a showdown within months of his arrival with ministers over the future of rural branches, many of which would shut if the government makes cuts to its pounds 150m subsidy. Royal Mail announced yesterday that Alan Cook, the current boss of National Savings & Investments, will take up his new position as managing director of its Post Office Ltd subsidiary next month. He is expected to repeat the turnaround at the Post Office, which has suffered a bruising couple of years. Deep cuts to the urban post office network sparked heated exchanges in parliament and protests from pensioner groups angry at the loss of local amenities. Moves to offset the loss of lucrative benefit payments with a wide range of financial services have also proved difficult in the face of stiff competition.

Alan Cook, the Chief Executive of National Savings and Investments (NS&I), has been appointed to the new post of Managing Director of Post Office Ltd, it was announced today. Reporting to Adam Crozier, Royal Mail’s Group Chief Executive, Mr Cook will develop the Post Office network in its key role of providing products and services to 28 million customers each week in communities nationwide. Mr Crozier said he was delighted Mr Cook had accepted the role. “Alan has a fantastic track record in growing business at NS&I where investments in Premium Bonds and other savings and investment products have grown by an impressive GPB10 billion in the last three years. “The Post Office has had a long and productive relationship with NS&I. In Alan, we are fortunate to have a business director who understands our business and its customers.