Post Office CEO Nick Read to step down, company says
Lead campaigner and former subpostmaster Sir Alan Bates said Nick Read “hasn’t achieved anything” during his time as chief executive, as ITV News' UK editor Paul Brand reports
Post Office CEO Nick Read will step down from the role in March 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”.
His decision comes amid the ongoing fallout from the Horizon scandal and after MPs voiced a lack of confidence in his leadership at the business and trade committee in February.
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, taking over from Paula Vennells, who this year forfeited her CBE following public anger over her handling of the Horizon scandal.
Subscribe free to our weekly newsletter for exclusive and original coverage from ITV News. Direct to your inbox every Friday morning.
Following the announcement he is stepping 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."
Lead campaigner and former subpostmaster Sir Alan Bates said Mr Read “hasn’t achieved anything” during his time as chief executive.
Reacting to his decision to step down, Sir Alan said: “Do you know, I predicted that. It’s funny that because when I knew he’d taken seven weeks’ leave - in theory to prepare for the inquiry - I thought he’d taken seven weeks off to find a new job."
Want a quick and expert briefing on the biggest news stories? Listen to our latest podcasts to find out What You Need To know...