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POSTIES have accused Royal Mail bosses of “unforgivable greed” after it emerged they were awarded over £2 million in new shares while workers struck over poor pay.
Four of the firm’s senior staff were handed the hefty conditional share awards this month, according to postal workers’ union CWU, with CEO Simon Thompson receiving the largest amount of £300,000.
“A day after Royal Mail workers took strike action against savage real-terms pay cuts, those enforcing that pay cut – who have been pleading poverty in the media – award themselves shares worth over £2m,” a CWU spokesperson said.
“There is not a polite word to summarise what unforgivable greed this represents, but it is a perfect example of the moral sickness at the heart of British business today.”
A Royal Mail spokesperson said: “These long-term incentive share awards are performance related and will only vest at the end of the three-year period if targets are met.
“The awards are then subject to a further two-year holding period.
“Performance-based long term incentives are a standard part of executive directors’ remuneration in listed businesses and are determined by the company’s independent remuneration committee.”
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