Royal Mail names former Ocado exec Thompson as CEO of UK business
Reuters
Published Jan 11, 2021 07:26
Updated Jan 11, 2021 08:00
(Reuters) - Britain's Royal Mail (LON:RMG) promoted former Ocado (LON:OCDO) and WM Morrison executive Simon Thompson to head its UK business, tapping a retail industry veteran to steer the former postal monopoly as it deals with a COVID-19-driven surge in online parcel deliveries.
Interim CEO Stuart Simpson, who had filled in for Rico Back, will leave Royal Mail by the end of this month. Back stepped down last May after two years during which the company faced issues with unions over a proposed 1.8 billion pound restructuring plan.
Thompson served as online grocer Ocado's chief product officer until mid-2020 as per his LinkedIn (NYSE:LNKD) bio. He has headed digital commerce at HSBC, was in charge of Apple (NASDAQ:AAPL)'s online stores in EMEA and held senior executive positions at WM Morrison Supermarkets, Motorola and Honda Europe.
Royal Mail said Martin Seidenberg, chief executive of its international parcels business general logistics systems, will join the Board on April 1.
The formal appointments, which were reported by Sky News over the weekend, come just three weeks after Royal Mail reached a crucial deal with its largest union over pay and operational change.
Britain's former postal monopoly had said then the agreement would help it focus more on its parcels segment, which has benefited as people resort to online shopping amid virus-led restrictions, offsetting a year-long decline in its legacy letter business.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.