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t
MINUTE REFERENCE
5.1 Financial Performance
Report
b)
5.4 Spending Permissions
[Individual product profitability report] AC
advised that last time this report was run it had
shown that every product was profitable
however margins varied considerably. ACTION
‘AC advised that management had been
refreshing this report and would bring this report
back to the Board in July.
‘ACTION In respect of any potential waiver
regarding security headroom, RA requested that
the mechanics of this be reviewed, so everyone
was clear on sequencing.
Al Cameron Asha
Patel/ Kathryn SherrattI
Rachel Scarrabelotti/
Al Cameron/ Tim
Mclnnes/Tom Lee
DUE DATE
October 2023
July 2023
STATUS
30/06/2022: Product profitability
‘outcomes are being reviewed by the CEO
and GE and will be circulated to the
Board. Al will provide a brief, verbal
summary on 12" July.
21/10/2022: The team will need to come
back to this in the New Year. The
priorities around the 3YP is the key focus
for now.
17/03/2023: We will update the product
profitability position in April for 2022-23
draft actuals and 2023-24 budgets and
share them at June Board.
10/05/2023: Added to the Forward
Planner for July 2023.
06/06/2023 Board Meeting: KS advised
that she would consider item 1 and
requested that this item be re-assigned to
KS in AC’s absence. LG advised that she
had understood action item 1 had been
raised in the context of NBIT, to see what
products would remain profitable over
what time.
z aT z
Board.
40/05/2023: Added to the Forward
Planner-fortuly 2023.
31/07/2023: Discussions with DBT and
UKGI on the waiver process are active and
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ongoing, including on the mechanics of
the steps required to ensure any waiver is
in place prior to the point at which it is
required.
12/09/2023: The waiver is currently being
drafted between DBT and POL legal. The
mechanics of how it will work, reporting
requirements placed on POL as part of theI
waiver and the length of the waiver are
under discussion.
110.1 Health & Safety Report
Board Meeting — 24" January 2023: ACTION EJ
requested that virtual training on dealing with
situations of aggression and assault be provided
to Postmasters and their staff, along with options
to acquire body cameras, as a Postmaster cost.
Board Meeting - 11" July 2023: EJ noted previous:
conversations around Postmasters and their staff
wearing cameras and advised that shop theft was:
high at present. The Chairman asked that this,
matter be returned for consideration at the next
Board.
Martin Hopcroft
26/05/2023: Guidance and training Open
documents will be hosted on Branch Hub,
signposted from the incident reporting
webpage referred to in 10.1 below. We
are leading an Inter-Bank H&S group to
share best practice and to source suitable
online video based training and
benchmarking partners. We have
approached Kings Security to scope and
cost a local SD card version of a body
camera for PMRs and how these can be
purchased. Will arrange a meeting with
EJ and SI to share further details when
received.
06/06/2023 Board Meeting: EJ advised
that the activities set out in items 6 and 7
remained to be completed so requested
that these actions remain open.
30/06/2023: Branch Hub reporting tool
launched and communicated via
channels. We continue to work with
partners and the Inter-bank group to
benchmark tools and identify or develop
suitable video training and will scope and
enhance current guidance and training for
PMRs and staff. This will take some more
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4. 3.1 Committee Reports
(verbal): Historical
Remediation Committee
ACTION In respect of the pecuniary principles, ACI Simon Recaldin/ Neil
requested that the Board be engaged on these IMcDaid
ahead of final consideration.
July 2023
time and will require additional budget.
Security and Kings have identified a SD
version of body camera suitable for retail
use and are waiting to meet the supplier.
We will engage EJ, SI and HC to
demonstrate and work on enhanced
training solution.
18/09/2023: Branch Hub reporting tool
launched and communicated via
channels. Data captured will be analysed
with any trends, conclusions and action
reported in the monthly PO Board H&S
reports. We continue to work with
partners and the Inter-bank group to
benchmark tools and identify or develop
suitable video training and will scope and
enhance current guidance and training for
PIMRs and staff. This will take some more
time and will require additional budget.
Security and Kings have identified an SD
version of body camera suitable for retail
use. We have a meeting planned on 22nd
September to share details with EJ, SI and
HC. Martin will attend October Board and
can discuss further, if required.
25/05/2023: Draft Pecuniary Principles
have been shared with legal
representatives for a formal consultation
period which is due to expire at the end
of May. With any subsequent
adjustments, Board will be engaged
ahead of final consideration at POL Board
‘on 11" July or by written submission
earlier if possible.
‘Ongoing
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28/06/2023: The formal consultation
period for the Draft Pecuniary Principles
has taken longer than expected because
of the time legal representatives took to
respond. Responses have been generally
positive and constructive but there are at
least 6 points of principle where material
difference of opinion remains. A
roundtable with legal representatives is
scheduled for 27th July to try and resolve
points of difference. Amended principles
will then be submitted to the September
board for final consideration.
12/09/2023: The Without Prejudice
consultation exercise with claimant
representatives is ongoing. They have
asked for a deadline of 15th September toI
consider the amended principles that
were circulated mid-August, and which
incorporated feedback from the lawyers
roundtable held on 27th July. This means
the pecuniary principles and the related
Independent Assessor process are
unlikely to be finalised in September.
POL Board Meeting-26/09/23
3.2 Audit, Risk and ‘AB contributed that if aCOO was goingtobe —_I Chairman/Nick 31/08/2023: There is no current plan to
Compliance Committee recruited, then support to the risk committee _IRead/Simon Jeffreys recruit a COO. Owen Woodley as deputy
could form part of that job description, as CEO will cover off Risk matters.
opposed to having another person. ACTION The
Chair took an action to investigate the proposal
with the management team and SJ and to bring
the matter back to the Board.
6. 4. CEO Report ACTION AB queried whether the Board had Richard Taylor/ Simon I 31 October 2023I 22/06/2023: Yes, desktop exercise Open
a) considered changing the brand, to separate from I Marshall completed on opportunity to change
the past but also to represent what we wanted toI brand, e.g. build new one for platform
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become. EJ contributed that the brand colours
were an issue and contributed to an association
with RMG. AB noted that whilst changing the
brand was an enormous undertaking, questioned
whether the brand stood for what the Board
wanted to build. The Chair requested that an
action be assigned, and this matter be returned
to Board later in the year;
products; as well as risks and
opportunities with greater distinction
from Royal Mail. Full analysis and
recommendations to be prepared for
Board discussion for 26 September / 31
October Board meeting.
4. CEO Report
f)
ACTION NR advised that J Lang was leading on
culture. LG requested that J Lang present to the
Board on culture.
I
ian Rudkin/ Juliet Lang
September 2023
31/07/2023: This activity will be now
superseded by the Culture activity that
Owen Woodley will be leading on. He is
planning on giving an update to Board in
September, which will articulate the
holistic Culture plans so a separate paper
won't be necessary.
To close
5. Financial Performance
Report
8.1 Inquiry Update
a)
Strictly Confidential
ACTION KS advised that the report would be
revised to provide greater insight into what was
going on in the business and how this was driving
results.
ACTION AB queried the contents of the terms of
reference for Grant Thornton. DW advised that
these could be circulated to the Board.
Kathryn Sherratt
Diane Wills/Joyce
Abai/ Rachel
Scarrabelotti
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September 2023
30/06/2023: Revised report to be
prepared for September Board.
12/09/2023: A new report will be
submitted to September Board, which
sign posts on the cover page the changes
we have made in response to Board
feedback. We are always happy to take
ongoing feedback to improve the
reporting,
30/06/2023: The ToRs for Grant Thornton
are not yet finalised, although we hope
they will be fairly soon. Once completed,
a copy of the final version will be
circulated to Board.
To close
Open
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12/09/2023: This issue is returning to the
Inquiry Steerco w/c 18th September for a
decision on the way forward, so Diane will
be able to provide an update at the next
Board meeting.
10. I4,3 Remuneration ACTION The metrics for the LTIP 23-26 remained IBoard Members Amanda Burton has discussed some
Committee to be finalised. AB requested that over the options with Nick and Nick will consider
course of the Board Strategy Days that the Board some recommendations.
consider activities that could be incentivised for
the 23-26 period
11. ions Committee I ACTION The Chairman advised that J Davies had I Nick Read 31/08/2023: Karen McEwan (Chief PeopleI To close
left the Company and requested NR to continue Officer) joins us on Monday 9th October
with the search for an interim CPO. 2023.
12. I5.CEO Report In relation to the appointment of the CTO,NR I Nick Read 31/08/2023: Chris Brocklesby (Chief To close
a) was due to meet with ZM, and C Brocklesby was. Transformation Officer) joined us on 21
due to commence circa 17 August. ACTION NR August 2023. Zdravko Mladenov, Jeff
would advise the Board of the final arrangements Smyth and Simon Oldnall will report into
‘once confirmed. him.
13. I5. CEO Report AD referenced the Pulse Survey for staff that was I Nick Read 31/08/2023: No. The survey will be issued] To close
b) coming up and queried whether O Woodley in September as it was not logistically
would lead this and whether it was possible for possible.
this to be brought forward from September.
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ACTION NR replied that © Woodley would be
leading this, and that NR would consider whether
the survey could be issued earlier than
September.
14. I5. CEO Report ACTION BT noted the ongoing work in respect of I Diane Wills 12/09/2023: This is an overarching matter] To close
?) culture and the link through to the Inquiry. The that will be formally closed when we
Board would need more visibility in the next few reach Phases 6 and 7 of the Inquiry (which]
months around the narrative for Phases 6 and 7 could be several months away). Diane is
and to understand what were the key themes aware of the requirement and will action
that would need to be addressed, at the appropriate time and provide
updates in the regular Inquiry Report.
15. I6.Financial Performance I ACTION Si queried the opportunity to re Nick Read/ Martin 31/08/2023: No decision has been taken I Open
Report distribute the proceeds from the online Roberts on redistribution. The soft launch of the
a) aggregator and to work with Postmasters on this, aggregator is underway ~ still premature
so that Postmasters embraced the online to have a conversation about profit share.
aggregator. NR advised that a conversation on
this would need to be had with the Board and the,
Shareholder
16. I6. Financial Performance Max Jacobi To close
Report
b)
17. I6.Financial Performance I ACTION AD queried the status of funding I Max Jacobi see2n Allheld back fundinghas I To close
Report received. MJ advised that he would double check i released to Post Office. The
) that the outstanding funds due from the c outstanding funding from April
shareholder as well as the NFSP quarterly funding was received on 26th June and this is the
had been receipted same as the NFSP quarterly funding.
18,7. Transforming Technology:I ACTION LG noted that staying on Horizon for —IZdravko Mladenov I October 2023 I 14/09/2023: An updated position and I Open
1
Horizon Replacement
Strictly Confidential
longer would push out the payback period for
Page 7 of 18
greater detail will be provided in the
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Post Office Limited Board Actions as at 18.09.2023
Update NBIT and requested details of the delta; October Board as part of the wider NBIT
a) discussion.
19. I 7. Transforming Technology:I ACTION BT queried how accurate the costs Zdravko Mladenov January 2024 I 14/09/2023: This action is in progress. I Open
Horizon Replacement estimated for cash counts in branch at the time
Update of NBIT migration were and what analysis had
b) been undertaken. ZM advised that further
analysis could be undertaken;
20. —_I7. Transforming Technology:I ACTION BT queried whether analysis could be —_IZdravko Mladenov December 2023 I 14/09/2023: The revenue and profit Open
Horizon Replacement undertaken to understand the revenue and profit) information is available for distribution. It
Update loss to the business of removing less strategically will be included in the next NBIT scope
°) important products from the NBIT rollout. discussion with the Board, which will
likely be after the NBIT Diagnostic from
Accenture is completed in October 2023.
21. 7. Transforming Technology:I £J noted that stamps could be printed on SSKs at I Zdravko Mladenov December 2023 I 14/09/2023: Similarly, to the above, as Open
Horizon Replacement present and shared his view that some sort of, part of the next NBIT scope discussion
Update automation for selling stamps by way of the with the Board, the team will offer
d) Postmaster printing these as required would be options to the stamp stock management.
the way forward. ZM thought this could be
achieved subject to contractual arrangements
and undertook to come back on this point with
options.
22. 7. Transforming Technology: I ACTION The Chair asked that ZM meet with EJ Zdravko Mladenov December 2023 I 14/09/2023: The NBIT team plans to haveI Open
Horizon Replacement and SI to assess whether there were any other the engagement with EJ and SI on this
Update items within the NBIT proposed product mix that topic in late October/early November,
e) could potentially be removed after the NBIT Diagnostic is completed.
The results will be reported to the Board
in December 2023/January 2024.
23. I 7. Transforming Technology:I ACTION ZM undertook to come back with a plan IZdravko Mladenov I January 2024 ~—_ I 14/09/2023: This action is in progress. I Open
Horizon Replacement in relation to this option. NR asked that this
Update process be tested in Q4.
f)
24. I 7. Transforming Technology:I TM agreed; ifa decision was taken on this sooner I Martin Roberts/ 15/09/2023: We are currently delivering I To close
Horizon Replacement it would be much easier to manage a programme I Martin Edwards against the network strategy approved by
Update of branch closures, ACTION LG requested that the Board in Mi 2023, which aims to
2) the team return with details of when decisions address over {mum'loss making branches
would need to be taken on this issue in order to wiexits). We
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Post Office Limited Board Actions as at 18.09.2023
maximise savings options. can't go further than this within this
funding period without either: a)
breaching the 11.5k requirement; or b)
taking a more aggressive approach to.
D&C roll-out, which the Board decided
was not appropriate in December 2022. If
we wish to revisit these assumptions,
then a decision by December 2023 would
be preferable for planning purposes. The
other constraint is funding availability —
further branch exits will require incentivesI
at an estimated cost of!
additional 1,000 branches.
We would propose making decisions on.
our network strategy for the period
beyond March 2025 by July 2024 at the
latest.
25. I 7. Transforming Technology:I ACTION EJ queried whether technical path Zdravko Miadenov I September 2023I 14/09/2023: The current significantly To close
Horizon Replacement clearing could be included as part of path clearing reduced funding envelope for NBIT will
Update activities. 2M advised that originally site surveys not allow for site surveys at this stage.
h) had been built in for every branch although on The decision can be revisited later on.
the basis of cost these had been taken out,
however the team could look at this point again.
26. 7. Transforming Technology:I ACTION LG requested an estimate for buying off IZdravko Mladenov _I September 2023 14/09/2023: The off-the-shelf option has I To close
Horizon Replacement the shelf. ZM advised that the team could look been put on hold and will be revisited
Update at this and model for business savings. only if the Build option is expected to fail.
i)
27. (9.3 Project Darwin ACTION The Chair noted the issues raised by BG I Nick Read/ Liam Sarah Clayton (POL Legal) and Liam Carrolll To close
Drawdown Request and asked NR to look into this. BT queried Carroll (Procurement) met with Ben Kennedy
whether the procurement team needed some (commercial lead from UKG) on 17 July to}
advice around achieving more commercial look at how POL could maximise its
outcomes however still operating within the flexibility under the procurement rules.
framework, There have also been two meetings with
Brian Gaunt on 5!" May and 5!" June and
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he has been briefed on the detail of the
Darwin procurement process.
31/08/2023: The outcome of project
Darwin remains uncertain given public
sector procurement challenges.
Nevertheless, BG has provided excellent,
support to the programme team and we
have a much better chance of delivering a
sensible commercial outcome.
28. I 9.5 Copper Stop Sell Funding) ACTION EJ queried whether Postmasters could bel Zdravko Mladenov —_I September 2023 I 14/09/2023: This action has been coveredI To close
Request offered a credit of £500 to affect the move to through the NED pre-briefings and the
a) copper themselves. LG noted the cost overruns revised submission to the September
‘on the project were unfortunate and questioned Board meeting.
how much confidence the team had that the
funding request was now final.
29. I 9.5 Copper Stop Sell Funding) J noted the point in the paper in respect of Martin Roberts 15/09/2023: There is work already in To close
Request Postmaster engagement and queried whether place to introduce/ utilise the dedicated
b) the area managers could be brought in to assist. Copper Stop project team, with Verizon,
and the use of two desk-based
administrators. We can complement this
with comms and direct messaging, and fo!
escalations the Area Manager team may
be used on an exceptional basis.
10.3 Health & Safety Report I £) noted previous conversations around Martin Hopcroft 18/09/2023: Close action ~ part of To close
Postmasters and their staff wearing cameras and response to action number 3.
advised that shop theft was high at present. The
Chairman asked that this matter be returned for
consideration at the next Board.
31. I 10.4 Common Issues The Chairman expressed concern around the —_I Nick Read/ Martin 16/08/2023: Tracy Marshall and Mel Park I To close
Judgement (CJ) Dashboard I number of metrics with a red status. NR advised IRoberts/ Tracy attended the GE meeting on Wednesday
that he would take this up and report back to the I Marshall 16" August 2023.
Board at the next meeting. Update from Tracy Marshall 31/08/2023:
To confirm, on the back of the board
action, Nick suggested that I attended GE
and went through every action on the
dashboard showing as ‘red’.
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I attended GE two weeks ago at Nick's
request and provided detail on what we
were doing to remediate against each
metric. We are now also discussing the
dashboard and ‘red’ metrics in more
detail at the retail committee each
month.
Many of the red metrics are related to
branch losses and discrepancies. The
Branch Discrepancies Improvement
Programme (BDIP) has recently been
stood up to improve operational
conformance in branches across all stages
of the postmaster lifecycle in a bid to
reduce these issues and improve
performance. We are also reporting
regularly to GE and also via IDG on
progress here.
32. I10.5 Inhouse Legal Team I BT and AB queried why the paper was of Nick Read Completed. To close
Independence relevance to the Board and AB invited any
inhouse lawyers with concerns to speak to
herself and BT. The Chairman requested NR
provide feedback on the paper to the paper
authors
33. I11.1 Inquiry Update Diane Wills/ Gemma To close
Ludgate
34. 11.3 RMU Update Simon Recaldin Open
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a) strategic importance ahead of Phase 5 of the
Inquiry and SR would report back to the Board on’
the proposed approach.
35. [11.3 RMU Update ACTION restorative justice meetings continued, Simon Recaldin Open
b) and SR would be returning to Board to request
additional funding for a wider restorative justice
program.
36. I 11.4 Historical Shortfalls ACTION SI queried whether the decision makers Ben Foat/ Martin 31/07/2023: This has been discussed. BenI To close
Scheme (HSS) Decisions- I in respect of Postmaster suspensions and those I Roberts has advised that the Retail Team needs to
Wrongful Death Claims conducting branch audits could be made produce a paper showing Suspensions /
accountable to Postmasters. BF advised that he Losses and that it is CU) compliant, but
would take this away with M Roberts to make Postmaster centric.
sure that this was heard. 15/08/2023: The Retail Team have been
to IDG with detailed decks on branch
assurance and suspensions. These slide
decks provide an update on progress/CUJ
compliance against the original CU
findings and identifies any further action
and improvement opportunities required,
whilst also demonstrating the
improvements that have been
implemented to deliver a much more PM.
centric approach.
37. __I Session 1: Post Office Today:/ TM outlined the Company’s funding position —_I Tim McInnes 29/08/2023: Will be included in the To close
Business Review including the level of network subsidy and “Board Strategy Away Day — Next Steps’
investment funding provided by the Shareholder. paper submitted to the Board meeting on
ACTION AD queried the value of the return on 26" September 2023.
capital invested.
38. —_I Section 2: Our business ACTION EJ referenced the online aggregator and IMartin Roberts/ 15/09/2023: Our overall approach to To close
a) shared his view that despite Postmasters creating] Martin Edwards sharing the income from the online mails
goodwill in branch which would promote platform has now been announced, with
confidence in an online offering, that payments consisting of: a) direct volume
Postmasters were not compensated for this and based payments for every parcel that is
currently would not benefit from online sales. accepted by a branch; and b) an end of
NR advised that this issue needed to be carefully year profit share with the network where
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reviewed.
we have committed to distribute the
majority of our profits to postmasters.
The precise mechanism for this profit
share will be decided by March 2024,
taking into account the value of the
overall profits and which products/
branches are directly supported through
the online platform.
39.
40.
Section 2: Our business
b)
Ministerial Visit (including
pre-/post-discussion)
a)
‘ACTION SI queried cash use by region. CP
advised that she would look into this.
ACTION OW advised that the Commercial team,
were exploring with Natwest whether digital
identity could be used to assist an increase in
deposit limits. SI queried whether this approach
could be applied to Western Union and
Moneygram. OW advised that the team could
look into this.
Chrysanthy Pispinis
Owen Woodley
12/09/2023: The action has been covered
in the ‘Board Strategy Away Day — Next
Steps’ paper (para #8): A summary of cash
usage across nations and regions of the
UK has been provided in the Board
Reading Room and the paper also
includes the link to PO's monthly cash
tracker.
a) Update: KYC controls on send and
receive limits are set by
Moneygram and Western Union
who are the regulated entities andI
are accountable for meeting FCA
controls [alongside Post Office
compliance to their controls].
b) Their systems do allow for
different limits to be set on a
partner-by-partner basis e.g.: POL
vindependent retailer. Post Office
has a much higher credit limit as
part of its contract with both.
However, this is under regular
review both at branch and
counter level to ensure that we
remain within Post Office risk
appetite and to also ensure a 360
To close
To close
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lactioned.
42. ISession 3: How Could Our I ACTION Si queried why new joiners of DMBs _I Martin Roberts, 31/08/2023: See Appendix 1 to action log.I To close
Business Evolve by 2028? I were offered historic employment terms. MR
advised that he would look into this
43. I Session 5: What other There was discussion around the completion by ITim Mcinnes 29/08/2023: Will be included in the To close
options exist to prepare POLI the Company of a policy paper including the ‘Board Strategy Away Day — Next Steps’
for 2028? timing for production and how this would be paper submitted to the Board meeting on
a) funded. ACTION TM undertook to provide an 26" September 2023.
update on this at the September Board meeting
44. I Session 5: What other ACTION AB shared her view that there needed to I Tim Mclnnes 29/08/2023: Will be included in the To close
options exist to prepare POLI be greater clarity as to what was included in the ‘Board Strategy Away Day — Next Steps’
for 2028? definition of central costs; the way central costs paper submitted to the Board meeting on
b) had been referred to appeared wider than that 26" September 2023.
applied to other businesses.
45. I Session 5: What other ACTION AD requested a copy of the McKinsey I Tim McInnes 29/08/2023: Will be included as an To close
options exist to prepare POLI report into the Company's cost base. TM appendix to the ‘Board Strategy Away Day
for 2028? undertook to provide this — Next Steps’ paper submitted to the
c) Board meeting on 26" September 2023.
46. I 2. Transforming Technology:I ACTION LG requested that there be pre- Tim Mcinnes Open
RTP Funding Request engagement with UKGI in respect of the RTP
funding drawdown that was anticipated to be
brought to the September Board meeting.
47. I3.1 HSS Fatality Claims— I ACTION On AB’s second query, SI spoke to the _ I Nick Read/ Martin (08/09/2023: To close
Case Assessment Principles I process where Postmasters could make acclaim I Roberts/ Martin jas a result of the Common Issues
and Guidance for exceptional remuneration and detailed a case I Edwards/ Tracy judgement, we introduced a ‘relational’
a) where a Postmaster who had made such a claim I Marshall kontract with postmasters , PO do have a
had passed away and the resulting difficulty for Kluty of good faith to its postmasters which
the estate in having this resolved. The Chairman Incllides?
asked NR to take this point away for iMrobecenepsrent
———- To act fairly and reasonably.
To act with integrity.
iv. To engage with Postmaster:
candidly, fully, and frankly.
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48. 3. 1 HSS Fatality Claims -
Case Assessment Principles
and Guidance
ACTION AB advised that Postmasters were an
integral part of the brand so far as local
communities were concerned so thought that we
Nick Read
18/09/2023: I have recently written to
Minister Hollinrake on restorative justice
more broadly and on establishing the
Open
b) needed to consider this issue through the lens of equivalent of a ‘hardship fund’ so that we
caring for the brand and brand issues. The can meet specific small financial needs.
Chairman commented that he thought We have suggested an average cost of
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employees would be very supportive of
additional support for Postmasters and asked NR
to look at this.
approximately £3000 for postmaster
victims and their wider families - we are
awaiting a response.
49. I3.2 Application of Conflicts I ACTION AB queried the proposed approach to _ISimon Recaldin/ Nick I 31 October 2023I 14/09/2023: RU are progressing the Open
Policy employees who had served historically in certain IRead/ Evelyn Hocking agreed actions in respect of the Conflicts
areas of the business and were employed Policy. A small working group has been
currently in the remediation unit. NR advised established to track progress, recognising
that he would speak to SR on this. the extremely sensitive nature of this
subject, and conversations are beginning
with relevant colleagues in line with
People and Legal guidelines. The RU
Director has arranged a meeting with the
Group Reward Director to ensure visibility
and consistency across POL. Board will be
further updated in October.
50. I 6. Update on FY22/23 ‘ACTION BT queried whether the issue was not I Sarah Gray/ Ben Foat/ I September 2023 Wrongful Trading Advice from Linklaters I To close
Annual Report and that the Shareholder was not going to support us,I Christian Spelzini has been uploaded to the Reading Room
Consolidated Accounts it was more of an issue that the Shareholder may I as a part of the Funding Report submitted
not be able to make the commitment in the to the September Board meeting.
required timeframe. BT requested that an advice Linklaters will provide training for the
note from Linklaters be requested on this to be Board on wrongful trading on Monday
provided to the Board for the September Board. 25" September.
meeting.
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Appendix 1
The interpretation of the question suggests we are using old terms for DMB colleague recruitment. We do not offer “historic”
terms for new joiners. They are contracted in the same way as all new POL joiners with up-to-date employment contracts,
and they are offered a salary based on an up-to-date transparent salary banding.
Any new DMB employee will be placed on the following pay rates by people support, this is full time and will be adjusted pro
rata for our part time colleagues.
2 Entry
ig Fully Competent I IRRELEVANT
They then enter the pay progression process which is an agreed process with the CWU which covers all colleagues. If the
colleague passes our competency assessment process successfully, they move on to the fully competent pay level.
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