The finance chief of the Post Office, Alisdair Cameron, will continue to receive a significant portion of his salary even after resigning from his position due to an extended period of sick leave stemming from the Horizon IT scandal. It is anticipated that Mr. Cameron will receive the majority of his salary until he reaches retirement age as part of a “medical retirement” arrangement made by the Post Office.
According to the most recent available accounts, Mr. Cameron, aged 59, received a total of £316,000 in salary and an additional £85,000 in bonus payments in the year leading up to March 2023. If he continues to receive two-thirds of his salary until the age of 65, the total amount would exceed £1.2 million. Specific details of his agreement have not been disclosed by either the Post Office or Mr. Cameron’s solicitors.
Mr. Cameron assumed the role of chief financial officer at the Post Office in 2015, working under former boss Paula Vennells before Nick Read took over in 2019. Prior to that, he held senior positions at British Gas. However, Mr. Cameron has been on medical leave since May of last year and has not attended any board meetings since then.
The company recently announced that Preetha McCann, former finance director at Selfridges, will be serving as interim chief financial officer following Mr. Cameron’s departure. His absence from the Post Office occurred amidst reports of clashes with chief executive Nick Read. It was previously reported that the two executives had fallen out, with one source attributing it to a “clash of personalities.”
Mr. Read purportedly expressed his frustration in working with Mr. Cameron and had sought a pay-off for the finance chief, although this request was not approved by the Government. Mr. Cameron declined to comment on the terms of his departure, while a Post Office spokesman stated that “Mr. Cameron has retired from the Post Office. Any payments made to a former member of the board will be reported in compliance with our legal or regulatory obligations.”
The Post Office has been grappling with a leadership crisis as it continues to address the repercussions of the Horizon IT scandal, with several senior figures being absent. Mr. Read has also faced allegations regarding his conduct, including claims that he oversaw a culture of misogyny. However, an independent report by a barrister recently cleared him of any wrongdoing.
During his testimony to the Post Office Inquiry earlier this year, Mr. Cameron issued an apology to the hundreds of sub-postmasters who were wrongly convicted due to errors in the company’s computer systems. He acknowledged a flawed culture within the Post Office, expressing that “everything was worse than it used to be, it was all someone else’s fault and nothing could be done.”
Following the dismissal of his predecessor, Henry Staunton, Nigel Railton was appointed as the new chairman of the Post Office last month and has initiated a strategic review of the company in an endeavour to restore its fortunes. Alongside the appointment of Ms. McCann, the Post Office also announced the recruitment of Neil Brocklehurst, the former co-chief of lottery operator Camelot, as the interim chief operating officer.
The situation at the Post Office is undoubtedly challenging, and the pathways to recovery will require careful consideration and strategic planning to regain the trust and confidence of both its employees and the public.