Key facts
- Martin Seidenberg is the CEO of Royal Mail's parent company, IDS.
- Seidenberg received a £6.9 million pay package.
- His pay package more than tripled compared to the previous year.
- A takeover-triggered bonus contributed significantly to the pay increase.
- IDS group profits fell 20%.
- IDS group profits were £222 million.
- Royal Mail's revenue climbed 2.6%.
- Royal Mail's revenue was £8.4 billion.
Martin Seidenberg, the CEO of International Distributions Services (IDS), the parent company of Royal Mail, has been awarded a pay package totaling £6.9 million. This amount represents more than a threefold increase compared to the previous year. The substantial rise in Seidenberg's compensation is primarily due to a bonus that was activated by a takeover event. This development occurs against a backdrop of declining financial performance for the IDS group, which reported a 20% decrease in profits, amounting to £222 million. However, within the group, Royal Mail itself experienced a revenue increase of 2.6%, reaching £8.4 billion.