Royal Mail – Strictly Confidential
RMH(08)8TH
RMH08/114 - 132
ROYAL MAIL HOLDINGS plc
(Company no. 4074919)
Minutes of the meeting of the Board of Directors
held at 148 Old Street, London, on 11 September 2008
Present: Richard Handover
Non-Executive Director (Chairman of meeting)
Allan Leighton
Chairman (by telephone, for RMH08/114-126)
Andrew Carr-Locke
Non-Executive Director
Alan Cook
Managing Director, Post Office Ltd
Adam Crozier
Group Chief Executive (by telephone, for RMH08/114-119)
Ian Duncan
Group Finance Director
David Fish
Non-Executive Director
Mark Higson
Managing Director, Royal Mail Letters
Baroness Prosser
Non-Executive Director
Helen Weir
Non-Executive Director
In attendance:
Jonathan Evans
Company Secretary
Also present:
Rico Back
Chief Executive, GLS
Martin Gafsen
Group Property Director, for RMH08/119
Ray Huntzinger
Managing Director, iRed, for RMH08/123
David Belton
Project Manager, iRed, for RMH08/123
RMH08/114
CHAIR
OF
MEETING
(a)
The
Board
agreed that as Allan Leighton was unavoidably
unable to be present at the meeting, Richard Handover should
take the chair.
RMH08/115
DIRECTORS
(a)
The
Board
noted that Andrew Carr-Locke had been appointed
as a director of the Company with effect from 1 September
2008, and welcomed him to his first meeting;
[ Information removed]
RMH08/116
FINANCE DIRECTOR’S REPORT – RMH(08)70
[ Information removed]
RMH08/117
DRAFT LETTERS BUSINESS STRATEGIC PLAN –
RMH(08)75
[ Information removed]
RMH08/118
INDEPENDENT REVIEW OF THE POSTAL SECTOR
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Royal Mail – Strictly Confidential
(a)
Adam Crozier updated the Board on the Review.
[ Information removed]
RMH08/119
STRATEGIC REVIEW OF THE ADMINISTRATIVE ESTATE
(PROJECT NOBLE) – RMH(08)72
(a)
The
Board
noted Adam Crozier’s paper, and Martin Gafsen’s
accompanying presentation;
[ Information removed ]
RMH08/120
MINUTES OF PREVIOUS MEETING RMH(08)7TH
(a)
The
Board
approved the minutes of the meeting held on 8 July
2008.
RMH08/121
MATTERS ARISING – RMH(08)69
(a) The
Board
noted the status report;
[ Information removed ]
RMH08/122
OTHER MINUTES
(a) The
Board
noted the minutes of the meetings of:
• the Group Executive Team on 17 July 2008
• Pensions Sub-Committee on 7 August 2008
• Post Office Ltd Board on 21 July 2008.
RMH08/123
iRED PARTNERSHIP
(a)
Ray Huntzinger gave a presentation to explain to the Board
iRed’s customer offer, its potential attractiveness to
businesses, and its significance to Royal Mail;
[ Information removed ]
(c)
the Board thanked Ray Huntzinger for his presentation, and
looked forward to seeing reports of revenue growth in the near
future.
RMH08/124
CHAIRMAN’S BUSINESS
(a)
The Chairman reported that the Government was beginning
the process to find a successor for him when he stands down
from the Board in March 2009. An advertisement for the
Chairman position was due to appear in
The Sunday Times on 21 September.
RMH08/125
REPORTS FROM CHAIRS OF BOARD COMMITTEES
[ Information removed ]
59
Royal Mail – Strictly Confidential
RMH08/126
EXECUTIVE REPORTS
(a) The
Board
noted the reports;
[ Information removed]
(c) 1st class quality of service in period 5 had exceeded the target,
with performance at 93.5%;
[ Information removed ]
RMH08/127
CAMELOT CONTRACT RENEWAL – RMH(08)71
[ Information removed ]
RMH08/128
CORPORATE FINANCE REPORT: QUARTER 1 –
RMH(08)73
(a)
The
Board
noted the paper.
RMH08/129
REGULATION REPORT – RMH(08)74
(a)
The
Board
noted the paper.
RMH08/130
COMPANY SECRETARY’S REPORT – RMH(08)76
(a)
The
Board
noted the report.
RMH08/131
OTHER BUSINESS
(a)
Committee membership: Richard Handover referred to the
need to review the membership of the Board’s committees in
the light of NED changes. The Board noted that:
• David Fish would cease to be Chairman of the
Remuneration Committee and member of the Nomination
Committee on 30 September 2008;
agreed that:
• Andrew Carr-Locke would become a member of the Audit
and Risk Committee with effect from 1 September 2008;
and further agreed, as temporary measures pending a review
of committee membership on the appointment of new non-
executive directors, that:
• Richard Handover would chair the Remuneration
Committee;
• Margaret Prosser would chair the Nomination Committee;
• Andrew Carr-Locke would join Richard Handover and
Margaret Prosser as a member of the Remuneration and
Nomination Committees;
• these appointments would take effect on 1 October 2008.
60
Royal Mail – Strictly Confidential
RMH08/132
CLOSE
(a)
In the absence of any further business, the Chairman closed
the meeting. The next scheduled meeting of the Board was
on 8 October 2008, at 148 Old Street, London.
61
Document Outline
