BEIS0001009
BEIS0001009
5" May 2023
Sir Wyn Williams FLSW
Post Office Horizon IT Inquiry
5th Floor, Aldwych House,
71-91 Aldwych
LONDON
WC2B 4HN
Dear Sir Wyn
Clarification to Post Office Annual Report and Accounts 2021-22
I would like to personally apologise to you on behalf of the Post Office for the incorrect statement in the
company's Annual Report and Accounts 2021-22, which implies that you and your team had given their
input to the outcome of a remuneration metric targeted at senior leaders helping to transform the Post
Office.
Post Office neither asked you or your team to agree to the wording of the remuneration metric at the
outset; nor sought your input into assessing whether it had been met. In addition, in my view, the framing
of this metric was a mistake, and as a result I have chosen to return the money paid to me associated with
this remuneration metric. Post Office is also considering further in respect of other senior leadership
beneficiaries of this remuneration metric.
After sending this letter to you, Post Office will publish the attached statement as clarification on its
website and will also include a clarification in the Annual Report and Accounts for 2022-23.
I would also like to reassure you that we continue to work hard as a business to support every aspect of
the Inquiry's work and are determined to put the interests of the postmasters affected first. Our clear intent
remains to offer full and fair compensation as quickly as possible and we are doing all we can to work with
the Government to achieve that. I will continue to ensure that the business gives the utmost support to you
and the Inquiry team so that all the lessons can be learnt from this Horizon IT scandal
Yours sincerely
GRO
Nick Read
Chief Executive, Post Office Limited
Post Office Limited
Registered Office:
Post Office and the
egistered in England and Wales. Registered No. 2154540.
bury Dials, 20 Finsbury Street, London EC2Y 94Q.
st Office logo are registered trade marks of Post Office Limited. postoffice.co.uk
BEIS0001009
BEIS0001009
CLARIFICATION TO POST OFFICE LIMITED ANNUAL REPORT AND ACCOUNTS 2021-22
AND APOLOGY TO SIR WYN WILLIAMS
On 1 March 2023, Post Office Limited published its Annual Report and Accounts for 2021-22. In the section
entitled ‘Remuneration Outcomes’, one of the sub-metrics for the remuneration scheme to help transforrr
the business related to support for the Horizon IT Inquiry.
Specifically it stated that ‘All required evidence and information supplied on time, with confirmation from Sir
Wyn Williams and team that Post Office’s performance supported and enabled the Inquiry to finish in line
with expectations’ and the metric was marked as ‘achieved’.
Support for the Inquiry was and is a key objective for the business and senior management in particular. We
recognise that by setting this particular sub-metric, and marking it as achieved, we implied that Sir Wyn and
his team had agreed to this sub-metric and had given their input to the outcome. We wish to clarify that we
did not ask for Sir Wyn's agreement to the wording of this sub-metric and Sir Wyn and his team did not give
any input into assessing whether it had been met.
Post Office apologises unreservedly to Sir Wyn and the Inquiry team for this mistake and the way it was
stated in the Annual Report for 2021-22. Chief Executive, Nick Read, has chosen to return the remuneration
associated with this sub-metric. Post Office is also considering further in respect of other senior leadership
beneficiaries.
Notes:
Remuneration Outcomes are on page 38 of the Annual Report and Consolidated Financial Statements
2021-22
The Transformation Incentive Scheme included a specific sub-metric entitled Inquiry Support, one of
nineteen sub-metrics which are set out on pages 38 to 41 of the Annual Report and Consolidated
Financial Statements 2021-22
Post Office Limited is registered in England and Wales. Registered No. 2154540.
Registered Office: Finsbury Dials, 20 Finsbury Street, London EC2Y 9AQ.
Post Office and the Post Office logo are registered trade marks of Post Office Limited, postoffice.co.uk