The board of Royal Mail is drawing up secret plans to hand an inflation-busting pay rise to Moya Greene, its chief executive, just weeks after next month’s General Election.
Sky News has learnt that directors of the privatised postal services group have been discussing the move to boost Ms Greene’s salary ahead of the publication of its annual report, which is expected in June.
Insiders said on Tuesday that a final decision about the pay increase had not yet been taken, and that formal consultations with leading shareholders, including the Government, which holds a 30% stake in Royal Mail, were still to take place.
They added, however, that it was “likely” that Ms Greene would be awarded an increase to her £498,000 base salary of approximately 5%.
Read more: Royal Mail To Deliver Pay Rise To CEO Greene.