Peter Long named Royal Mail chairman succeeding Donald Brydon
Royal Mail has named Peter Long as chairman, succeeding Donald Brydon who announced he was stepping down at the start of the year.
The co-chief executive of travel company TUI, Long will take over from Brydon, who has been with the postal firm for six years, in September.
"Long brings with him a proven track record in transforming the fortunes of large and complex companies and I look forward to working with him. Donald Brydon has led our board through a period of tremendous change at Royal Mail and we are all most grateful for his wisdom and counsel during this key time for our company," said Royal Mail chief Moya Green.
Long will help lead Royal Mail at a time of increasing pressure for the recently privatised service as it faces competition from rival delivery firms.
The company reported stagnant revenue growth for the year ending 29 March, at £9.3bn, and a four per cent fall in letter volumes. Parcel volumes increased by just half of what was expected at three per cent, with parcel revenue inching up only one per cent.
"Royal Mail is one of the most recognised companies in the United Kingdom and I am delighted to be both joining the board and taking over as chairman in September," said Long.
"I look forward to working with Moya Greene and her management team as the group – with a clear focus on its customers – continues its transformation programme, delivers on its strategic objectives and generates long-term sustainable shareholder value."