Union irked at Crozier’s £2.5m pay
A Union representing postal workers said it was “outraged” that Royal Mail’s former chief executive earned almost £2.5m in his final year with the group.
Adam Crozier, who left to join ITV, received a bonus of £1.5m, a salary of £633,000, a cash supplement in lieu of a pension of £206,000, and other benefits worth £19,000.
His total pay in the financial year to March was £2.42m. The Royal Mail said the bonus was under a three-year long-term incentive plan.
Dave Ward, deputy general secretary of the Communication Workers Union, said: “Postal workers will be outraged by news of Crozier's salary and bonus.
“The bonus came after a year in which he oversaw a national postal strike, lost the confidence of his workforce, and then left before the job of modernisation and business transformation agreement was complete.”
Similarly, Alan Cook, the former managing director of the Post Office, received £1.25m, while Royal Mail letters managing director Mark Higson was paid £1.73m. Finance director Ian Duncan was paid almost £1.4m.
Donald Brydon, chairman of Royal Mail Group, said: “These directors are running a business with a turnover in excess of £9bn in a tough marketplace.
“Royal Mail needs to be able to attract from the commercial market the best management talent.”