Adam Crozier
Adam Crozier (born 26 January 1964) is the Scottish chief executive of the Royal Mail.[1]. He took up this position in February 2003[2].
Brought up on the Isle of Bute[3] he graduated with a Business Studies degree from Heriot-Watt University. He formerly worked for advertising agency Saatchi and Saatchi, and was chief executive of the Football Association from 2000 to 2002.[4]
In November 2007, the Daily Telegraph reported[5] that he had received a 26% pay increase in base pay, taking out £1,256,000 in 2007. His achievements in this year included shrinking the workforce by 45,000, and closing 4,600 post offices, with another 2,500 to follow. The goal of this reduction in workforce and in retail outlets was to increase profitability of the corporation (which had made a profit of £537m[2] in 2004/5, dropping to around £300 million in 2005/6, dropping to £233 million in 2006/7, to the the point where the corporation was running a £10 million/annum trading deficit in 2007).
In 2008, the BBC reported[6] that Royal Mail's trading position had worsened dramatically to an annual loss of £279 million/yr in financial 2007. Crozier's remuneration almost tripled to £3 million[6].
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