“Unforgivable Greed” of Royal Mail CEOs condemned after £2 million in new shares awarded

COMMUNICATION WORKERS UNION
02/09/2022
FOR IMMEDIATE RELEASE

UNION ATTACKS “UNFORGIVABLE GREED” AFTER CEOs AWARD THEMSELVES £2M IN NEW SHARES

The Communication Workers Union (CWU) has attacked the “unforgivable greed” of Royal Mail’s senior management, after it was discovered that they had given themselves shares worth over £2 million.

A document seen by the union shows that on 1^st September 2022, the following management personnel were awarded conditional share awards in Royal Mail Plc, as opposed to ordinary shares:

Chief Risk and Governance Officer Mark Amsden: 114,013
CFO Mick Jeavons: 239,361
CEO Martin Seidenberg: 288,888
CEO Simon Thompson: 299,202

A Communication Workers Union spokesperson said: “A day after Royal Mail workers took strike action against savage real-terms pay cuts, those enforcing that pay cut – who have been pleading poverty in the media – award themselves shares worth over £2 million.

“There is not a polite word to summarise what unforgivable greed this represents, but it is a perfect example of the moral sickness at the heart of British business today.”

ENDS

For further information or press enquiries, please contact CWU Press Officer Marcus Barnett on 0781290450 or mbarnett@cwu.org.