From: Nick Read. _
Sent: Wed 06/12/2023 1
To: Karen McEwan,
Subject: RE: Nick's objectives
Get it...
Nick Read
Group CEO
GRO
100 Wood Street
London EC2V 7AN
ostoffice.co.uk
From: Karen McEwan
Sent: 06 December 2023 09:10
To: Nick Read ¢.
Subject: FW: Nick’s objectives
POL00458678
POL00458678
The other key point here (cultural) is the message about me ‘being on the side of management’. It’s a
counter-cultural ethos. We want to foster a culture of inclusivity, and not hierarchy, i.e., we don't
want to ‘have sides’, and the sooner we dispel this the sooner we have a great place to work.
K
Karen McEwan
Group Chief People Officer
People Team
From: Nick Read
Sent: 02 December 2023 1
To: Karen McEwai
Subject: FW: Nick’s objectives
POL00458678
POL00458678
Fyi...welcome your thoughts, Karen.
Obviously sharing in confidence as I always will...gives you a sense of where the Chairman is
coming from.
Happy to discuss.
Nick
Nick Read
Group CEO
100 Wood Street
London EC2V 7AN
postoffice.co.uk
From: Henry Staunto!
Sent: 29 November 2023 2
To: Nick Read < GRO
Subject: Fwd: Nick’s objectives
Nick ,
FYI - as I discussed yesterday except that Karen has not discussed with you . I would have thought
that , following our conversation , we should include a comment on para 3 that the management
change process needs to have" started " or some such.
Taking out the point on" Costs " may not be all bad.
We could put the Hubs bit back in if you thought we should - i personally think we should .
Please ensurethat Karen's " tweaking " has not made it more difficult for you . We could weight the
items with a bigger weighting to point 1.
Karen made a point at the RemCo that management " had a sense of entitlement " with the STIP etc .
I picked her up on it in the meeting - I thought she was meant to be on the side of management !
From now on I will step back and let her speak more on behalf of the management .
I was surprised you were not there for all the discussion except on your bonus .
BW,
Henry
Sent from Outlook for iOS
From: Karen McEwan Q
Sent: Wednesday, November 29, 2023 5:39 pm
To: Henry Staunton
Cc: Karen McEwat
POL00458678
POL00458678
Subject: Nick’s objectives
Henry,
Please find below, the reworked objectives as requested. I have amalgamated the first two, removed
the banking hubs and the cost savings, and tweaked the wording on the remaining.
I trust this will satisfy the questions from yesterday.
Let me know if there is anything further, I will leave you to discuss and finalise with Nick in the
meantime.
Karen
1. Deliver the budgeted revenue targets and the growth plan.
« Revenue rand the trading profit target of,
« grow the business by delivering the mails strategy, launching Parcels
Online and growing carrier propositions to 25k across the Network.
2. Culture; Split 2/3 and 1/3.
Deliver a 1% increase in Postmaster engagement — relationship (19%)
and postmaster support (24%) - from 2022 results. Increase
Postmaster participation by 25%. Improve Strategic Partner scores by a
similar % uplift.
Deliver a 1% colleague engagement score improvement based on the
2022 baseline (71%).
3. Build, upweight and develop a high performing Senior Team to lead
the business through the Public Inquiry and deliver the Transformation
agenda.
4. Lead the business through the Public Inquiry such that the reputation of
the current Post Office is maintained (non bonusable).