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Royal Mail Chief Moya Greene Was Given £250,000 Of Public Money To Buy Uk Home

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The chief executive of the state-owned Royal Mail was secretly given £250,000 of public money to help her buy a new house without the Government being told, it has emerged.

Vince Cable, the Business Secretary, was not told until last month about the payment to Moya Greene after she moved from Canada to take up her post in 2010. His department discovered it when it was sent the draft remuneration report for Royal Mail’s directors for 2012-13.

Mr Cable intervened, saying his permission should have been sought and that he would have blocked such a payment. Ms Greene has now returned £120,000, the amount she received after tax, a transaction has disclosed in the Royal Mail report.

Mr Cable said: “I am pleased that this unapproved payment is being returned. The company acted quickly to rectify the situation. A mistake was made in not seeking my approval: I would not have approved it. The chairman [Donald Brydon] is sorry ; the payment is being returned. I now regard the matter closed. Moya Greene is an exceptionally good CEO and she and the board have my full support to take the company forward.”

Pity we won't be asking Carney for the money back as it was an administrative error or perhaps she should have asked for rental expenses instead?

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no wonder that stamps are 50p each! :blink:

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