How will she manage on just £1.2 million a year??
LONDON — The remuneration committee of Britain’s newly privatised postal firm Royal Mail ruled out a pay rise for chief executive Moya Greene on Tuesday, avoiding a potential run-in with its largest investor, the British government.
Royal Mail, at the centre of a political storm after critics claimed Britain’s October sale of a 60 percent stake in the firm short-changed the taxpayer, said the committee had taken into account Greene’s wishes in its decision not to propose a base pay increase or new incentive arrangements.
The absence of a pay hike for Greene, who was paid a total of 1.22 million pounds in 2012-13, removes any potential for conflict over remuneration with the government, which still holds a 30 percent stake in the firm, and has taken a tough stance on rising executive pay.