A dinner discussion with Moya Greene
Held on Tuesday, June 6, 2017
With support from Deloitte
Moya Greene (CEO, Royal Mail)
If running financial services firms is challenging these days, running Royal Mail may be a lot more difficult.
There is the decline in letter-writing to cope with. Then there’s the “gig economy” and “self-employed” delivery drivers. “Collect in-store”. The rise to dominance of online advertising. And if the technological headwinds weren’t enough to deal with, the economic uncertainty created by ‘Brexit’ is impacting mail volumes.
On top of that, the Royal Mail has challenges the financial sector knows only too well: legacy infrastructure; active unions; universal service obligations; intense political scrutiny; and a significant pension burden.
And yet… Despite all that, Royal Mail is a success story. For years, it was a political hot potato and burden on the tax payer, but the last decade has seen a transformation. It’s returned to profit; it’s been floated on the LSE; its customer service is steady and so is its dividend. What on earth is going on?
Who better to explain this than its CEO, Moya Greene?
Moya was raised in Canada. After overseeing several transport privatisations as a senior civil servant, she went into banking – first as Managing Director of infrastructure finance for TD Securities, then as a senior exec for CIBC’s retail arm. Since 2005, she’s been a postie: appointed CEO of Canada Post, she did such a good job that in 2010 we invited her over here to take on the challenging role of CEO at Royal Mail.
I am, therefore, delighted that she has agreed to speak – under the Chatham House Rule – on transforming business for the digital age, challenges on the horizon and whatever else she likes. I am also delighted that our friends at Deloitte have agreed to host the dinner – which is a great opportunity to look at the challenges facing ‘traditional’ businesses everywhere.