Tag: Europe

Employee shares key to modernising Royal Mail

Posted by | Oct 30, 2006 | |

Royal Mail’s Chief Executive Adam Crozier insisted today an employee share scheme involving a 20 per cent stake for postmen and women was the best way to ensure success for the investment package to modernise the company.

Commenting on a report from the Commons Trade and Industry Committee, Mr Crozier said: “Of course the investment plan in the company and an employee share scheme are linked.

“There is no doubt that the Government is generally supportive of employee share schemes and recognises their importance, and they have made this clear on a number of occasions.”

For example Stephen Timms, Chief Secretary to the Treasury, said: “Employee shareholders have a direct interest in the performance of their company and a real stake in its success. Research in both the US and the UK shows there is a clear link between employee share ownership and improvements in productivity.”

Mr Crozier said no-one should under-estimate the challenges facing Royal Mail.

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EU reforms pose challenge to Polish state monopolies

Posted by | Oct 30, 2006 | |

The European Commission (EC) is opening up the EU’s postal market to cross-border competition, and Poczta Polska must now whip itself into shape to compete with its European counterparts. And as the EU presses ahead with internal market reforms, many of Poland’s state monopolies could find themselves forced to compete with foreign companies on their own turf.

The EC has cracked open the postal market, which could be the first step in dismantling barriers to sectors traditionally controlled by state giants. Poczta Polska is in for a rough ride, as it will have to transform itself to cope with competition from foreign and domestic firms; and the Polish antitrust regulator is also taking a harder line in other sectors. “In preparing the proposal, we have put consumer and user needs first. With full market opening in 2009, we can look forward to more innovation, better services and improved efficiency,” said Internal Market and Services Commissioner Charlie McCreevy. “Without it, EU postal markets will be increasingly unable to meet the challenges of the ‘communications revolution.'” While this is unlikely to ruffle those outside the industry, it should be remembered that Poczta Polska is one of the biggest companies in the country. Company revenues last reached 6.5 billion zloty (EUR1.67 billion), with net profit at 101 million zloty. It currently employs nearly 100,000 people and has a vast network of 8,400 offices – some of which can be found even in the most remote parts of Poland.

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Austrian Post acquires majority in German specialty logistics service company trans-o-flex

Posted by | Oct 30, 2006 | |

Österreichische Post AG (”Austrian Post”) announces the acquisition of a majority stake in trans-o-flex GmbH and its affiliated companies („trans-o-flex”) from private equity funds managed by Odewald & Compagnie (”Odewald & Cie.“) and Alpha Group („Alpha“). Odewald & Cie. and Alpha will retain a stake of 25.1%. The management and supervisory board of Austrian Post have already approved the transaction. The transaction still requires approval by the relevant antitrust authority.

trans-o-flex is one of Germany’s leading specialized logistics service providers for express delivery in the business-to-business segment with a focus on the life science, consumer electronics/home entertainment and lifestyle/cosmetics industries. By assuming corporate leadership at trans-o-flex, Austrian Post is taking control over one of only a few Germany-wide logistics networks with 39 delivery centres. In 2005, trans-o-flex handled approx. 49 million shipments and employed approx. 890 employees. The range of services offered by trans-o-flex also includes specialized services such as transportation of hazardous goods and temperature controlled products. To handle its international freight traffic activities, trans-o-flex operates the European logistics network EURODIS, a combination of European logistics companies that is currently being built up.

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MPs attack plan for Royal Mail share payouts

Posted by | Oct 30, 2006 | |

The government should reject Royal Mail’s proposals to give up to 20% of the company’s shares to employees, an all-party committee of MPs has concluded.
The trade and industry committee said Royal Mail’s arguments about motivating staff “lacked robust evidence and were little better than mere assertions”.

Senior managers at Royal Mail, led by the chairman, Allan Leighton, have insisted the share scheme should be an integral part of its business plan. The group needs to tackle a huge pension fund deficit and invest in automating its letters business, through a combination of government support and higher stamp prices.

In its latest report on Royal Mail, published today, the committee said it was “surprised to hear that the management of Royal Mail has placed conditions on agreeing to the government’s financial package (in the form of a proposed employee share scheme) given that the company is technically insolvent because of its pension liabilities.

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An Post chiefs step down in huge shake-up

Posted by | Oct 29, 2006 | |

An Post has parted company with its chief operating officer, Larry Donald, and commercial director, Derek Kickham. Both were former ESB managers and had been brought in by the former chief executive Donal Curtin, also from the ESB, three years ago to head his controversial overhaul of the postal group.

Donald has already left the company and Kickham is expected to depart within the next few months. Both their titles have been scrapped under a new organisational structure announced last week by Donal Connell, who replaced Curtin in early July.

The sales and marketing, and retail operations managers, who until now have reported to Kickham, have become part of the group’s top line of management — answerable to Connell.

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