Moya Greene is set to step down as chief executive of Royal Mail after eight years at the helm.
Greene, who joined the company when it was balance sheet insolvent, will be replaced by Rico Back, who is chief executive of the group’s European subsidiary General Logistics Systems.
She will formally step down from the board on 19 July following Royal Mail’s annual general meeting (AGM) but stay on at the company until September in order to ensure an “orderly handover” to her successor.
Royal Mail said Greene will use her retirement to “pursue a range of other interests, including developing her portfolio career.” She is currently a non-exec at easyJet and a trustee of Tate. She is also set to become a non-exec director of Rio Tinto in the second half of 2018.
Royal Mail chairman Peter Long said: “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 £1.5bn 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.”
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