Royal Mail boss’s pay package triples to £6.9m despite profits slide (opens original article in a new tab)

Royal Mail's parent company CEO received a £6.9m pay package despite a 20% drop in profits, with the increase attributed to a recent takeover and vesting of long-term incentives. Executive pay rose significantly, while the company faces regulatory scrutiny over delivery performance and has made commitments to maintain UK operations following the acquisition.

• Royal Mail's parent company CEO received £6.9m in pay and bonuses, tripling from previous year
• Company profits fell 20% to £222m despite revenue increase to £13.6bn
• CEO's pay rise linked to £3.6bn takeover by Czech billionaire Daniel Křetínský
• Executive directors' total pay rose to £9.8m, double the previous year's £4.2m
• Ofcom investigates Royal Mail for missing delivery targets for second time this year
• Company blamed increased costs on higher wages and government tax changes