Profits slide at Royal Mail as it promises to deliver on turnaround strategy November 15, 2018 Shares fell as Royal Mail promised a “clearer focus” on financial performance and management accountability today after its profits dropped by over a quarter for the opening half of the year. Chief executive Rico Back said the company will renew its focus on customers just a month after issuing a profit warning that saw shares tumble, [...]
Royal Mail shakes up management after series of setbacks as senior executive departs November 7, 2018 One of Royal Mail's top executives has agreed to step down from her role as the postal service shakes up its senior management following a series of knocks to its share price. Sue Whalley, head of the UK post and parcels division, will depart in March next year, and has left the board with immediate [...]
Royal Mail ’embarrassed’ at lack of shareholder engagement over executive pay October 16, 2018 Royal Mail’s remuneration committee chair Orna Ni-Chionna told MPs today she was “embarrassed” at the failure to engage with its shareholders before a major revolt over the pay for its outgoing chief executive Moya Greene. Ni-Chionna, appearing before the Business, Energy and Industrial Strategy select committee, said it was a “huge disappointment” and “shock” that [...]
Royal Mail downgrade forces shares below the government’s 2013 IPO price October 9, 2018 Shares in Royal Mail have dropped below their controversial IPO valuation for the first time after the company was downgraded by two banks this morning. The FTSE 100 company, which floated at 330p a share in 2013, briefly dropped as low as 322p in morning trading. A profit warning issued last Monday sent the company’s [...]
Crispgate: Walkers announces new recycling scheme for crisp packets October 5, 2018 Walkers has announced a new recycling scheme two weeks after Royal Mail asked anti-plastic campaigners to stop posting empty crisp packets without envelopes. From December fans of the savoury snack company can post used packets in envelopes free of charge, directly to a recycling company. All brands of crisp packets will be accepted as part [...]
Top Royal Mail investor expresses anger at company’s handling of union pension deal October 3, 2018 A major investor in postal giant Royal Mail has expressed anger at the management of the company in the same week its shares have taken a battering. Shares in the firm fell 14 per cent on Monday after it issued a profit warning, before closing down another seven per cent yesterday. Royal Mail has seen some [...]
Royal Mail shares slump for second day in a row October 2, 2018 Royal Mail's shares have sunk to their lowest level since the company was taken private, putting the firm's membership in the FTSE 100 at risk. Shares are trading more than five per cent down today after falling off a cliff edge yesterday, losing 14 per cent and wiping more than £800m off its market value. So far, shares [...]
Crispgate: Royal Mail asks people to stop posting empty crisp packets September 26, 2018 Royal Mail is urging people to stop putting crisp packets in postboxes without envelopes amid fears that it might cause a delay to operations. The postal service has been caught in the firing line of a brewing row between environmental campaigners and crisp maker Walkers over non-recyclable packets currently being sold in the UK. [...]
Royal Mail chair steps down because of Countrywide commitments September 19, 2018 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 [...]
Royal Mail buys stake in Australian tech start-up Market Engine Global September 7, 2015 Royal Mail has bought a stake in Australian technology start-up Market Engine Global. The size of the stake and the amount paid by the FTSE 100-listed company have not been disclosed, but the move represents Royal Mail's continued attempt to diversify its business. Read more: Royal Mail posts flat revenue as letter sending continues [...]