Royal Mail chairman delivers resignation
Royal Mail chairman Donald Brydon will step down later this year, the company has revealed.
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Brydon, who also chairs software firm Sage, said: “I am proud of what Royal Mail has achieved as a company in the last six years. Our transformation is well underway and we are now a FTSE 100 listed company.
“I feel that now is the right time for me to make this decision.”
Royal Mail floated on the London Stock Exchange to much fanfare in 2013 but the process and the valuation has been criticised by MPs as being much too low.
Senior independent director Orna Ni-Chionna added that the board will soon look to appoint a new chairman.
Ni-Chionna said: "Donald has made a very significant contribution to the direction of Royal Mail during his six years as chairman.
“The board offers its thanks and looks forward to working with him in the coming months."
Chief executive Moya Green also said: "Donald has played a key role as chairman during one of the most eventful periods in our history. I would like to personally thank him for his support and counsel."