AssetID: 55796980
Headline: UNCAPTIONED: Royal Mail Chief's Pay Triples to £6.9m Despite Profit Slump
Caption: Royal Mail Chief’s Pay Triples to £6.9m Despite Profit Slump. Martin Seidenberg, chief executive of Royal Mail's parent company IDS, received a £6.9 million pay package in the year to March 2026, more than triple his previous year's earnings. The increase was largely driven by share awards linked to IDS's £3.6 billion takeover by EP Group, owned by Czech billionaire Daniel Křetínský. Total remuneration for IDS directors rose to £9.8 million from £4.2 million, drawing attention to executive rewards during a period of financial pressure for the business. Royal Mail itself remained only marginally profitable, increasing operating profit from £2 million to £5 million as letter volumes fell by 10% while parcel deliveries rose by 7%. The group’s international parcels division, GLS, remained the main profit driver but suffered a 17% decline in earnings due to regulatory changes in Italy, among other conditions. The company is also facing criticism over service standards after Ofcom fined it £16 million earlier this year for missing delivery targets, including delays to first-class mail. The latest pay figures are likely to intensify debate over executive rewards at a company still struggling to improve performance while maintaining its universal service obligations. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,Royal Mail,IDS,EP Group,Martin Seidenberg,Daniel Křetínský,fines,Ofcom,slump,profits,dividends,chief executive,earnings,disproportionate,GLS,Italy
PersonInImage: