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Postmaster on Post Office Board in newly created role

Press release   •   Aug 17, 2020 10:01 BST

  • Non-Executive role on the Post Office Board to be created for serving Postmaster
  • Creation of Postmaster role on the Board builds on Chief Executive’s determination to reset relationship with Postmasters
  • A separate consultation also announced for Postmasters to have their say about how they can influence business decisions at Post Office

A Non-Executive Director position on the Post Office Board is to be created for a serving Postmaster to advocate the interests of more than 8,000 Postmasters.

The Postmaster Non-Executive Director role demonstrates the Post Office’s determination to create a genuine two way partnership with its Postmasters.

The appointment of a new Non-Executive Director has been approved by the UK Government, the Shareholder of Post Office Limited.

A separate consultation will also be launched in the Autumn asking how Postmasters and those commercial partners who operate multiple Post Office branches want to be involved in the development and execution of business decisions. This will include options to establish regional or thematic forums that could advise and influence business decisions.

Nick Read, Chief Executive at the Post Office, said:

“Having a serving Postmaster on our Board sends the clearest signal yet of our determination to put Postmasters at the forefront of our business, and reset our relationship. We also want Postmasters to advise and influence business decisions, ensuring we shape the future of the Post Office together. Our consultation will ensure every Postmaster has the chance for their views to be heard, and help us get this right.”

The National Federation of SubPostmasters (NFSP) and the existing relationship that they have with Postmasters will complement and sit alongside the Post Office’s new approach to engaging with Postmasters that emerges from this consultation.

‘Stronger Together’ regional events

Today’s announcement by the Post Office follows its regional ‘Stronger Together’ events in July where its Chief Executive met with hundreds of Postmasters from all parts of the UK to discuss the retailer’s performance during the Covid-19 pandemic and its future growth strategy.

Between mid-March and June, the ‘lockdown’ period of the Covid-19 pandemic, the Post Office was able to keep 90% of its branches open. Postmasters received guaranteed remuneration in April and May and a top-up in variable remuneration in June. Post Office also supplied all 11,500 branches with Perspex screens, gloves, sanitisers and social distancing markings and posters.

Nick Read added:

Many Postmasters went above and beyond to keep their branches open and support their local community during the pandemic. The next few weeks and months will be a critical period. I’m pleased that we’re seeing cash deposits and withdrawals increase at our branches, a continuing high demand for our mails products and a return in demand for foreign exchange. Footfall returning to our branches will ultimately benefit our Postmasters.”

Earlier this week / last week, the Post Office published its first ‘Cash Tracker’ showing the billions of pounds that are deposited and withdrawn each month at its 11,500 branches. Use of cash was up 24% in July when compared with June.

About Post Office:

  • With 11,500 branches, the Post Office is among the larger retail networks in the UK.
  • 98% of Post Office branches are run with retail partners on an agency or franchise basis.
  • The Post Office provides services central to peoples’ everyday lives; 99.7% of the population lives within 3 miles of a Post Office.
  • We offer the UK’s largest fee free cash withdrawal network through our 11,500 branches, over 2,000 cash machines and 99 per cent of UK bank customers can access their accounts at the Post Office.
  • We sell 170 different products and services spanning financial services including savings, insurance, loans, mortgages and credit cards; Government services; telephony; foreign currency; travel insurance and mail services.
  • Post Offices branches remain highly valued and trusted, and are the focal point of many communities. For more information; visit www.postoffice.co.uk and to find out about a Post Office business opportunities; visit www.runapostoffice.co.uk