The chairman of Royal Mail, Peter Long, announced today that he is stepping down with immediate effect.
Royal Mail said he had taken the decision after his other commitments “increased substantially” this year, including moving from non-executive to executive chairman at troubled estate agents Countrywide.
Long joined the board of Royal Mail in June 2015 and was appointed chairman in September 2015.
Long said: “It is with a heavy heart that I step down from the Royal Mail board. Over my three years as chairman, I have taken great pride in what has been achieved by the group. It is a company with an incredible heritage.
"Operating in a challenging environment, it is positioning itself well for diversified growth under the leadership of Rico Back and his executive team. I wish all my Royal Mail colleagues every success in the future.”
He is being succeeded in the role by Les Owen, who has been a member of the Royal Mail board since 2010 and was previously chief executive of Axa Sun Life and Axa Pacific Holdings.
Owen said: “I would like to thank Peter for his significant contribution over the past three years. I look forward to working with Rico and my board colleagues as we focus on implementing our strategy in the UK and overseas.”