By John Smith • 15 May 2020 • 14:02
AFTER just two years in the post, German born, Swiss resident, Rico Back has suddenly resigned from his position as CEO of Royal Mail with immediate effect.
He will however remain on the payroll until the middle of August and is expected to receive a substantial payment close to half a million pounds in lieu of notice and will also retain significant share options.
In the last year, the carrier has seen turnover and volume of mail drop sharply as well as major problems with unions.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.
Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.
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