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Adam Crozier got a £3million salary
Adam Crozier got a £3million salary

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£3million pay deal for running Royal Mail into the ground

Vic Barlow
18/ 6/2008

HAS there ever been a more clueless managing director than Adam Crozier? Having achieved absolutely nothing at the FA he’s somehow managed to generate the first operating loss in Royal Mail’s illustrious history.

If you receive your first-class post in the afternoon, have lost your local sorting office or seen your village post office closed down you may wonder what happens to the top man in an organisation beset by failure. Wonder no more.

The annual report of Royal Mail reveals that chief executive Adam Crozier has earned the princely sum of £3million in salary and ‘performance driven’ bonuses although exactly what constitutes ‘performance’ the report does not make clear.

How can a cash-strapped organisation losing £100m a year pay the man responsible 180 times the average salary of postmen fighting to keep their jobs?

The report also reveals that Ian Griffiths the former managing director of Royal Mail Letters, received a £500,000 payoff when leaving the company after only 14 months. Nice work if you can get it.

Had these enormous payments been made to a wealth-creating entrepreneur like Sir Richard Branson there would be no complaints but neither Mr Crozier or Mr Griffiths took any financial risk whatsoever.

They stood to lose not a single penny of their own money yet were given extravagant rewards for leading an established business into decline.

Mr Branson earned his millions by his creative genius not by running down a long-established business. Sir Richard has given us a first-class airline, faster trains, cheaper mobile phone calls, new financial services.

Mr Crozier has decimated the postal network, antagonised staff and alienated customers for which he’s paid millions.

Like our discredited members of Parliament this is yet another example of those in power feathering their own nest out of public funds while insisting others make sacrifices.

No wonder postal workers strike.

The views expressed on this page are Vic Barlow's and not necessarily those of the Express


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Most recent 2 of 4 user comments

   I like bob's comment, it offers some balance.
slinkywizard, Macclesfield
4/07/2008 at 16:13
   I've never liked Crozier, all style no substance, smarmy & an all-round bad egg. There may be some truth in the diatribe by Bob below but the short + tall of it is I wouldnt let Crozier run the local village fete let alone anything else. Bob are you seriously saying Crozier is a first class MD?
The Satisfied Customer
22/06/2008 at 04:58
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