Royal Mail boss handed out £140,000 ‘short-term’ bonus despite company’s delivery problems

Royal Mail Chief Executive Officer Simon Thompson has been awarded an annual salary and benefits package worth £753,000. The deal included a “short-term” bonus of £142,000

The Royal Mail boss has been handed a bonus of more than £140,000 even as the company faces an investigation into missed delivery destinations.

The company’s annual report revealed that Chief Executive Officer Simon Thompson received an annual salary and benefits package worth £753,000.

The deal included a “short-term” bonus of £142,000.

But the record payout comes after industry regulator Ofcom said it had to deal with Royal Mail’s failure to meet its delivery targets over the past year.

Royal Mail admitted nearly a fifth of first class deliveries in the year to April were at least a day late. The company blamed the coronavirus crisis and staff shortages.

The annual report also revealed that Mr Thompson’s base salary had risen by 3.6% to £543,750 since April this year.

However, the Communication Workers Union this week warned of a possible strike by more than 115,000 Royal Mail workers over a 2% pay rise for most of the company’s staff.

Royal Mail insists its workers’ pay deal is worth up to 5.5% when other elements, including a bonus, are included.

The company emphasized that Mr. Thompson’s annual bonus did not include a payout for achievement goals, but was a reward for meeting other goals.