POL00103663
POL00103663
Message
From: Tim Parker GRO
on behalf of — Tim Parker
Sent: 10/10/201:
To: Nick Read
Subject: Re: Mark Davies
We spoke, but thanks for the update, Nick.
Best
Tim
From: Nick Read <_
Sent: Thursday, October 10, 2019
i Carla Stent1
Cc: Alisdair Cameron ¢°
Subject: Mark Davies
All,
I wanted to let you know that I have agreed with Mark Davies that he will leave the business. A communication will go
out internally and to wider stakeholders later this morning once Mark’s team have been informed. In the short term
internal comms will report into HR and Patrick Bourke and the Corporate Affairs team will work directly to me.
Given the current and expected noise in the press I have asked TBCardew, who worked with me on crisis comms at both
Nisa and Extra Energy to provide some additional support. We have not capitalised on the great Bk of Ire deal nor won
the battle on Banking Framework 2 and Barclays, in the way we would have liked. Clearly a more proactive approach will
be needed for the GLO judgement and subsequent resetting of our relationship with Postmasters. This works needs to
start quickly.
I have asked Mark to step down from GE and his leadership role with immediate effect but to stay on in a 2 day/week
consulting capacity to support the GLO work until the Judgement has been announced and this phase concluded. There
is good corporate knowledge that we need. He is happy to do this.
Mark has been professional and amicable, as you would expect, but is obviously disappointed.
Don’t hesitate to contact me if you would like more detail. Please do speak with Mark too, if appropriate.
Regards,
Nick
POL-0103246