Post Office Executives: Bonuses
Debate between Baroness Wheatcroft and Earl of Minto(1 year, 7 months ago)
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The Earl of Minto (Con)
My Lords, management clearly has a very serious responsibility, as the Post Office provides all of us, throughout the entire land, with some extremely valuable services. The specific management team in place has apologised and, while this is not the appropriate time to go into great detail about what might happen to it, it must be fully aware of the errors that it authorised.
Baroness Wheatcroft (CB)
My Lords, every member of that board should have been aware of the bonuses paid and the reasons why they were. If they were not aware, they were failing to do their duty, but, if they were, they showed appalling judgment. Is the Minister content that they should stay in office for even two more weeks?
The Earl of Minto (Con)
I entirely agree with the noble Baroness’s sentiment. Certainly, in my experience, every member of the board is fully aware of exactly what the remuneration package is for each individual director and everyone within the organisation, whether it is fixed or bonus-related. Having said that, at this moment it is important that the two reviews under way take place. A decision can then be made at the appropriate time.