Royal Mail CEO Moya Greene leaves post at short notice

  • Push-out Score suggests push-out forces
  • After almost eight years in the position
  • Accolades, praise, thanks and good wishes for Greene
  • Rico Back taking over
  • Greene spoke at length and said 113 words

(exechange) — London, United Kingdom, April 20, 2018 — Moya Greene, chief executive of Royal Mail, leaves the position. It is a change at short notice. As announced by Royal Mail plc in a news release on Friday, April 20, 2018, Moya Greene leaves her post as Chief Executive Officer at the postal service and courier company after almost eight years in the position, effective June 1, 2018.

Greene leaves the company effective in September 2018.

Greene’s duties will be taken over by Rico Back, currently Chief Executive Officer of Royal Mail’s major European subsidiary, General Logistics Systems (GLS).

Greene’s move is part of a management shake-up also involving the position of Chief Executive Officer of Post and Parcels, Royal Mail UK.

No reason given

In the announcement, Royal Mail did not explicitly explain the reason for Greene’s imminent move, opening the door for speculation.

“Retire”

Royal Mail said: “The Board of Royal Mail plc … and Moya Greene have agreed that she will retire in September 2018, after more than eight years as Chief Executive Officer.”

Share price rise since November 2017

The change follows a rise in the share price of Royal Mail plc since November 2017.

Chaired by Peter Long

Royal Mail plc is chaired by Peter Long.

In the position of CEO since 2010

Moya Marguerite Greene has been the Chief Executive Officer of Royal Mail plc. since July 2010 and its Executive Director since July 15, 2010.

Moya Greene will step down from the Board on July 19, 2018, the date of the Company’s AGM.

She will not be standing for re-election at the AGM.

She will remain at the Company until September 14, 2018 in order to provide advice and counsel, working closely with Rico Back to ensure an orderly handover.

Following her departure, Greene will pursue a range of other interests, including developing her portfolio career.

She is a non-executive at easyJet plc. and a Trustee of Tate.

Greene will, as previously announced, become a non-executive director of Rio Tinto in the second half of 2018.

Push-out Score suggests push-out forces

It is not completely certain what forces eventually triggered Moya Greene’s imminent move.

The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.

Read the full story in the exechange report 17.2018 ($).