NFSP Communications Team
Post Office Ltd CEO Nick Read has been forced to repay some of his enormous £455,000 bonus after the group was accused of inaccurately attributing Inquiry approval of certain metrics linked to executive bonuses.
One of the targets set in order for Nick Read and others in the Post office to receive full bonuses was: “All required evidence and information supplied on time, with confirmation from Sir Wyn Williams and team that Post Office’s performance supported and enabled the Inquiry to finish in line with expectations” Post Office claimed that this target had been met and confirmed by Sir Wyn and the Inquiry Team in their Annual Report when in fact, it had not.
Post Office has apologised and said Nick Read would return part of the £455,000 awarded to him in relation to the Inquiry bonus metric. The Board of the PO is still in discussions in relation to whether other senior executives who received bonuses under the same metric will be required to return a proportion of their bonuses.
The Horizon scandal saw over 700 Postmasters, assistants, and employees of PO Ltd wrongly convicted over losses in the branch. To date, the Court of Appeal has overturned 83 people’s criminal convictions. The process of awarding compensation to those affected has been slow, and MPs have called the scandal one of the biggest miscarriages of justice in British legal history.
Having a bonus metric linked to submitting evidence for an Inquiry is morally wrong. However, to then state incorrectly that this target had been met, raises serious questions about the integrity of Post Office Ltd and how effectively they are overseen and managed by Government. Questions that require answering are:
The NFSP calls upon:
From Calum Greenhow – CEO National Federation of SubPostmasters:
“The very fact that PO thinks it is acceptable for their executives to gain a bonus linked to resolving historical matters shows their moral compass is well and truly out of alignment. Further, these same PO executives are getting generous bonuses before the victims receive full redress.”