The government has removed the chair of the Post Office due to the Horizon IT scandal, signaling a need for new leadership.
Henry Staunton, who took over as chair in December 2022, has been dismissed by the business secretary, Kemi Badenoch, as the state-owned company grapples with the fallout from the scandal.
Badenoch emphasized the necessity for new leadership, stating that the Post Office is under heightened scrutiny and requires operational and cultural changes. The decision to replace Staunton comes as the government seeks to address the injustices caused by the Horizon scandal and provide compensation to those affected.
The government’s shareholding in the Post Office is managed by UK Government Investments (UKGI), which also oversees public stakes in Channel 4 and the Met Office. The Post Office, reliant on government funding, has faced tough competition in recent years.
Staunton, who previously chaired Phoenix Group and WH Smith, has had a long career in FTSE boardrooms, including roles at ITV, BSkyB, and Ladbrokes.
The Post Office has been approached for comment.
2024-01-27 13:40:55
Link from www.theguardian.com