“The shares trade at barely half their listing price and the dividend has been cut after the company scrapped the second-half payment back in March, alongside the latest in a string of profit warnings.” Shareholders will therefore be praying that former British Airways boss Keith Williams can mastermind a turnaround. The first step for the chairman, and his chief executive Stuart Simpson could be to sit down with union leaders to thrash out an agreement to avoid a major walkout. “This must still be translated into support for restructuring that goes further and faster than before, which must then be implemented successfully.” Union members voted to walk out in March, but decided to delay their strike to help out during the Covid-19 pandemic. “It is absolutely critical that the new CEO wants to work with the CWU to overcome the challenges we all face and deliver the postal service the public and our members deserve.”
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