Vox Markets Logo

Post Office appoints former Camelot boss as new chair

11:35, 1st May 2024
Vox News
Company News
TwitterFacebookLinkedIn

[William - stock.adobe.com]
Nigel Railton, the former long-serving boss of National Lottery operator Camelot UK, has been appointed as the new chair of the Post Office, the government confirmed on Wednesday. 
The appointment, made by business secretary Kemi Badenoch, comes after the sacking of Henry Staunton in January due to the handling of the Horizon IT scandal that saw hundreds of post office operators wrongly prosecuted for stealing money from their shops.

Railton, who spent 24 years at Camelot before stepping down last year, has previously held senior roles at carmaker Daewoo and British Rail, and is also the chair of currency management services firm Argentex.

The Department for Business and Trade said Railton brings a "wealth of experience in transforming organisations", and will take up the post as soon as possible.

"Nigel has the necessary experience to lead an organisation as large and complex as the Post Office and I'm confident he will work well with the leadership team to implement the change that is required in the organisation," Badenoch said in a statement.

"The government is committed to delivering justice for the postmasters, but also fulfil our duties to Post Office staff. I want to thank Nigel for stepping up to public service at a time of need, and I know he can help fix the issues of the past whilst transforming the company for the future."

TwitterFacebookLinkedIn

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

Recent Articles
  • BT sees profits drop 31%, predicts little growth this year

    26 minutes ago

    Telecoms giant BT reported a 31% drop in annual profits after taking a £488m impairment of goodwill in the year to 31 March, as it forecast little to no growth in revenues and earnings this year.

  • London pre-open: Stocks seen up after positive US close

    35 minutes ago

    London stocks were set to rise at the open on Thursday following a positive close on Wall Street, amid a deluge of corporate news.

  • Wood Group rejects second takeover proposal from Sidara, shares tumble

    16 hours ago

    Wood Group tumbled on Wednesday after saying it had rejected a second, improved £1.5bn takeover proposal from Dubai-based engineering and consulting company Sidara.

  • Thames Water investors set to quit boards - report

    16 hours ago

    Representatives of Thames Water's multinational syndicate of shareholders are reportedly set to quit as directors of its corporate entities after refusing to inject the billions of pounds of funding required to bail it out.

  • FTSE 100 movers: Experian surges; Burberry falls on results

    17 hours ago

    London's FTSE 100 was up 0.1% at 8,439.32 in afternoon trade on Wednesday.

  • Berenberg raises target price on Shell

    17 hours ago

    Analysts at Berenberg raised their target price on energy giant Shell from 2,950.0p to 3,400.0p on Wednesday, stating the group was "still on the right track".

  • RBC Capital lifts price target on DCC

    17 hours ago

    RBC Capital Markets lifted its price target on DCC on Wednesday to 5,800p from 5,700p after full-year results a day earlier.

  • Zotefoams reports significant milestone in carton commercialisation

    17 hours ago

    Shares in material solutions group Zotefoams jumped on Wednesday after the company reported progress towards the commercialisation of its ReZorce beverage cartons.

  • Royal Mail owner IDS recommends revised £3.5bn takeover offer from EP Group

    17 hours ago

    Shares in Royal Mail owner International Distributions Services (IDS) surged on Wednesday afternoon after its board recommended a revised offer from billionaire Daniel Křetínský's EP Group which values the company at £3.5bn.

Watchlist