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Who owns Royal Mail as CEO resigns?

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oyal Mail will be investigated by the industry watchdog Ofcom after it failed to meet its delivery targets during the past year.

The postal service delivered only 73.7 per cent of First Class mail within one day, well short of its 93 per cent target.

Ofcom said it would take into account whether any “exceptional events” explained the shortfall, but that Covid was no longer “an excuse for poor delivery performance”.

It comes as the boss of Royal Mail announced plans to step down, just weeks after the postal delivery firm agreed a pay deal with striking staff.

Following a bitter dispute with workers over pay, Simon Thompson said it was the right time to quit. He will leave his role on October 31.

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The board of Royal Mail is “in advanced stages of appointing a new CEO”.

Keith Williams, chairman of Royal Mail parent International Distributions Services, said: “On behalf of the board, I would like to thank Simon for his significant contribution over more than five years at Royal Mail, both as CEO and previously as a non-executive director of the Board.


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