POL00448738
POL00448738
From:
To:
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Subject: ‘A message from the Chairman - SID Appointment
Date: 25 October 2023 07:43:00
Attachments: im: Lu
Dear Board Members,
The Chairman has asked me to write to you to advise of the outcome of views in respect of the
appointment of the incoming Senior Independent Director, following the Chairman having met
with all directors, save the incumbent SID and Al Cameron.
In respect of the preference for an internal versus external appointment of the incoming SID, the
views of directors were equally divided. Given this, the Chairman has decided on balance, noting
the views of the Shareholder expressed on this point, that the SID should be an external
appointment.
As to the skills and competencies of the incoming SID, again there was a division of opinion with
around half of directors favouring the appointment of a senior corporate seasoned Non-
Executive Director as against an appointee with an understanding and experience of Whitehall.
In interpreting these views, the Chairman has decided to proceed with the marginal preference
of an appointee with Public Sector experience gained at an executive or Non-Executive Director
level (for example at the FCA, BBC or Ministry of Defence). Directors also expressed a strong
desire for depth of diversity in characteristics across the shortlist for the appointee, particularly
gender.
During the meetings with directors there was discussion as to whether the Board size needed to
be reviewed and an additional independent Non-Executive Director appointed. Whilst director’s
thoughts on this were varied, the Chairman accepts the view that the Board size should remain
as is, given the recent and impending changes to Board membership, in order to maintain
continuity and build stability.
If you have any strong objections to the above proposals, I would be grateful if you could please
advise the Chairman. In the absence of alternative views materials will be taken to the
Nominations Committee meeting at the end of November seeking approval to progress to
obtaining Shareholder consent to commence the recruitment process for an external SID with
professional experience as above.
Best,
Rachel
Rachel Scarrabelotti
Group Company Secretary
Legal, Compliance and Governance
100 Wood Street,
London, EC2V 7ER
postoffice.co.uk
POL00448738
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