Tui AG joint-chief executive Peter Long was today named chairman-designate of Royal Mail.
Thomson and First Choice parent group Tui has previously announced Long will take over as chairman next February when he steps down from the role of joint chief executive.
Long has been chosen by the postal group’s board to replace Donald Brydon as chairman of Royal Mail and will succeed him on September 1.
Royal Mail said Long was selected following a “comprehensive search process”. He will earn £300,000 a year in the role.
Long will join the Royal Mail board as a non-executive director on June 18 and stand for election at the company’s annual general meeting on July 23.
He will take over Royal Mail two years after the company’s £3.3 billion privatisation.
The government still owns 30% of the company and is expected to sell the stake in this parliament.
Long said: "Royal Mail is one of the most recognised companies in the United Kingdom and I am delighted to be both joining the board and taking over as chairman in September.
“I look forward to working with [chief executive] Moya Greene and her management team as the group continues its transformation programme, delivers on its strategic objectives and generates long-term sustainable shareholder value."
Greene said: "Peter Long brings with him a proven track record in transforming the fortunes of large and complex companies and I look forward to working with him.”
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