Post Office Chairman Pushed for CEO Pay Raise Amid Compensation Scandal
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Former Post Office chairman Henry Staunton twice asked for CEO Nick Read's pay to be doubled to over £1 million to prevent him quitting. The requests were refused.
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Staunton claimed Read had considered resigning several times and was unhappy with his current pay of £573,000. The Post Office denies Read tendered his resignation.
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Read is now under HR investigation at the Post Office amid an ongoing scandal involving compensation for sub-postmasters.
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Campaigner Alan Bates said the row over executive pay is a "distraction" and the priority should be paying compensation to victims of the Horizon IT scandal.
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Bates suggested the Post Office should be sold to a company like Amazon for £1, as its business model is no longer viable without huge new investment.