The Post Office has appointed consumer business veteran Nick Read as its new group chief executive.
Read will join the group in September and replace outgoing chief executive Paula Vennells, who earlier this year announced plans to step down after seven years in the job.
Read was chief executive at Extra Energy, having joined the company just over a year ago in April 2018.
Previously he was Nisa Retail chief executive and has held senior positions at Tesco, Thomas Cook and Vodafone, as well as Hbos and Lloyds Banking Group.
Tim Parker, Post Office chair, said: “Nick brings to the Post Office a wealth of experience from a range of sectors including convenience retail, banking, and travel, with a strong track record of commercial success and a reputation for always putting customers first”.
Read said he was “determined” to make sure the Post Office business thrives.
“I am really looking forward to working everyone involved in the business and in particular the thousands of postmasters around the country who are its lifeblood,” he said.
Vennells, who joined the Post Office in 2007 and became chief executive when it was spun off from Royan Mail in 2012, will take up the role of chair at Imperial College Healthcare NHS Trust.
She has been credited with leading a turnaround of the business which last year posted profit of £35m, compared to losses of £120m in 2012.
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