Post Office chief Nick Read to step down next year following Horizon IT inquiry

Post Office CEO Nick Read has announced his forthcoming departure from the position next year, according to the company. Mr Read expressed that it was a “great privilege” to have led as chief executive through what he acknowledged as an “extraordinarily challenging time for the business and for postmasters”.

Previously, Mr Read had voiced his wish to temporarily step back from his duties in order to focus fully on the ongoing Horizon IT inquiry. Appointed in 2019, Mr Read took over the reins following Paula Vennells, the ex-chief who this year renounced her CBE amidst the widespread public anger surrounding the management of the Horizon controversy.

Mr Read’s decision to leave in March next year comes amid the continued repercussions caused by the Horizon scandal. This includes MPs declaring a lack of confidence in his stewardship at a February business and trade committee meeting.

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Despite this, an investigation carried out earlier in the year cleared Mr Read of all misconduct allegations. This report came after Mr Read refuted a claim by Henry Staunton, a former Post Office chairman, suggesting that Mr Read had previously attempted resignation over a pay dispute.

Reflecting on his tenure and the decision to step down, Mr Read said: “It has been a great privilege to work with colleagues and postmasters during the past five years in what has been an extraordinarily challenging time for the business and for postmasters. There remains much to be done for this great UK institution but the journey to reset the relationship with postmasters is well under way and our work to support justice and redress for postmasters will continue.”

However, lead campaigner and former subpostmaster Sir Alan Bates didn’t mince his words regarding Mr Read’s reign, telling the PA news agency: “Do you know, I predicted that. It’s funny that because when I knew he’d taken seven weeks’ leave in theory to prepare for the inquiry I thought he’d taken seven weeks off to find a new job. Honestly, that was my first thought.”

When asked to comment on Mr Read’s five-year term, Sir Alan said: “Well, he really hasn’t achieved anything, has he? He certainly hasn’t done anything for the victims in all of this. I mean, I’m lost for words.”

Discussing hopes for the future leadership, Sir Alan told PA: “It needs somebody just to actually resolve and get everything out of the way get all the misdemeanours that have gone on in the past, get them out in the open and to drive this whole issue, this whole scandal, and all aspects of it, out. And get rid of so many of these people who have been involved over the years who just seem to be shuffled around within Post Office. Someone’s got to come in with one big sweeping brush and clear the whole thing out.”

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