The Post Office boss threatened to resign from his post unless he was given a nearly £1million pay packet, it has been reported.
Nick Read, who was paid £573,000 last year, threatened to “make a drama” and submit a formal grievance or constructive dismissal claim as he tried to up his income. He warned colleagues that “my patience has expired” and “we will end up in a real self-made mess” when he pushed for a new deal last year, the Times has reported.
Senior MPs told the outlet Mr Read would have to now resign if it emerged he misled a Commons select committee about his earlier reported threats to leave his post. Appearing before the committee, he was asked under oath whether he had ever tried to resign and replied: “No. Why do you say that?”
A source told the newspaper that the Post Office board was “forever pushing to increase Read’s pay”.
They added they had “tried to find ever more creative ways” to convince Grant Shapps to do so.
The minutes of a meeting in January 2023 show Mr Read was ready to “submit a formal grievance, and/or make a claim for constructive dismissal” if his financial package did not improve.
Former Post Office boss Henry Staunton told the Business and Trade Select Committee that Mr Read was under investigation for bullying. This was then confirmed by the Department for Business and Trade.
Nick Read became chief executive of the Post Office in 2019 as the organisation dealt with declining revenues.
His salary for 2022-23 stood at £573,000, including bonuses, the latest figures show.
And the year before that, he earned £816,000, of which £415,000 was salary and the rest bonus.
He did not get a bonus in the year 2020-21.
Whistleblowers have also accused Mr Read of bullying, as well as allegations of sidelining the only woman on his senior team who is now bringing an unfair dismissal claim against the Post Office.
The Department for Business and Trade said: “Last year the Post Office received allegations about the conduct of Nick Read and Henry Staunton.
“While Mr Read is co-operating with the investigation, the secretary of state was informed that Mr Staunton was blocking the investigation into his conduct. It is right to wait for this investigation to conclude before making any further judgment.”
Amanda Burton, a non-executive director who chairs the Post Office’s remuneration committee, told the Times: “Today’s Post Office encourages speaking up and raising concerns, which is the right thing to do for our employees and postmasters … Our ‘speak up’ process is an essential part of our cultural transformation to ensure that concerns are fully investigated.”
Express.co.uk has contacted the Post Office for comment.
