Post Office boss Nick Read is set to step down from the role next year, the company has said.
Post Office boss Nick Read is set to step down from the role next year, the company has said.
Mr Read described it as a “great privilege” to have worked as chief executive in an “extraordinarily challenging time for the business and for postmasters”.
He had previously announced his intention to temporarily step back from the role to give his “entire attention” to the next stage of the Horizon IT inquiry.
Mr Read took on the chief executive position in 2019, succeeding former boss Paula Vennells, who this year forfeited her CBE following public anger over her handling of the Horizon crisis.
His decision to step down in March next year comes during the continuing fallout from the Horizon scandal – which included MPs expressing a lack of confidence in his leadership at the business and trade committee in February.
Mr Read was also “exonerated of all misconduct allegations” following a report into his behaviour earlier this year.
The report came after he denied a claim made by former chairman of the Post Office Henry Staunton that he had tried to resign because of pay.
Following his decision to step down, Mr Read said: “It has been a great privilege to work with colleagues and postmasters during the past five years in what has been an extraordinarily challenging time for the business and for postmasters.
“There remains much to be done for this great UK institution but the journey to reset the relationship with postmasters is well under way and our work to support justice and redress for postmasters will continue.”
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